Hyperliquid’s Anthropic and OpenAI markets have been discontinued as Ventuals, the team responsible for these perpetual contracts, announces it is ceasing operations and moving to a different initiative within the ecosystem.

— Ventuals, which managed the perpetual futures for OpenAI and Anthropic on Hyperliquid, is concluding its activities and will be collaborating with another group in the ecosystem.

— Trading in OpenAI and Anthropic perpetual contracts has been paused and all positions settled.

— The perpetual markets on Hyperliquid have gained traction among traders, allowing 24/7 speculation on a diverse array of asset prices, including those of private enterprises.

The closure of one of the significant players in the trading of private-company stocks on Hyperliquid indicates the ongoing consolidation of this burgeoning market.

On Monday, Ventuals announced the winding down of its project related to perpetual futures linked to the valuations of OpenAI and Anthropic, stating that its team will integrate into another initiative within the Hyperliquid framework.

This transition has resulted in the suspension of trading in the OPENAI and ANTHROPIC markets, with all open positions automatically settled. Additional markets are expected to cease operations in the upcoming days. During its tenure, the team reported over $650 million in trading volume and garnered more than 500,000 HYPE in community backing.

This shutdown aligns with the trend of crypto-native trading platforms venturing into markets traditionally linked to Wall Street, allowing traders to utilize perpetual futures for speculation on commodities, equities, and private company valuations through blockchain-based platforms.

Hyperliquid has emerged as a leading venue for this trend, processing approximately $234 billion in perpetual futures volume in the last month, according to DefiLlama data.

The OpenAI and Anthropic contracts were initiated via Hyperliquid’s HIP-3 framework, which enables third-party teams to establish and manage their own perpetual futures markets on the exchange. This model has expanded Hyperliquid’s offerings beyond cryptocurrencies into specialized markets that might be challenging to list on conventional exchanges.

The contracts for OpenAI and Anthropic provided traders with exposure to two of the most scrutinized AI firms worldwide, even though neither is publicly listed. Instead of holding shares, users could speculate on potential changes in their valuations.

The closure underscores the increasing consolidation among HIP-3 market operators.

TradeXYZ, another initiative within Hyperliquid, has emerged as the predominant entity in this sector, representing nearly 97% of HIP-3 trading volume. Its offerings include contracts associated with firms like SpaceX (SPCX) ahead of its public listing.

Notably, TradeXYZ’s SpaceX market accurately predicted the company’s successful debut and the stock’s initial surge above the $135 IPO price.

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In May, total exchange volumes dipped by 3.45% to $4.41T, marking the lowest level since September 2024. In contrast, RWA perpetual futures volumes surged by 10.4%, reaching a new all-time high.

In May, total exchange volumes dipped by 3.45% to $4.41T, marking the lowest level since September 2024. In contrast, RWA perpetual futures volumes surged by 10.4%, reaching a new all-time high.