Volmex bitcoin volatility perpetual futures debut on Hyperliquid

Perpetual futures on the Bitcoin Volmex Implied Volatility Index, or BVIV, debuted on Hyperliquid on Monday. Markets by Kinetiq led the listing with Volmex and Perps.fun. The launch was described as the first onchain perpetual futures market for Volmex's bitcoin volatility index. The market gives traders a way to position for the degree of bitcoin's price swings rather than their direction. BVIV tracks cryptocurrency's expected 30-day implied volatility in real time and is often described as a bitcoin VIX. It is analogous to Cboe's VIX, which tracks 30-day implied volatility in the S&P 500, Wall Street's benchmark equity index. The perpetual market allows traders to go long or short the volatility index directly. Previously, traders could express volatility views indirectly through options, an approach described as capital-intensive and requiring derivatives expertise. The launch comes as the digital-asset market becomes increasingly institutionalized and draws participants including hedge funds, volatility traders and options-income sellers. Cole Kennelly, founder and CEO of Volmex Labs, said the launch makes bitcoin volatility exposure easier to hedge, speculate on and use.