Perpetual contracts tracking the Bitcoin Volmex Implied Volatility Index (BVIV) launched on Hyperliquid on Monday, providing decentralized exchange users with an instrument to wager on the intensity, rather than the direction, of bitcoin price fluctuations.
Referred to frequently as a “bitcoin VIX,” the BVIV Index monitors the expected 30-day implied volatility of the cryptocurrency in live conditions. This benchmark functions similarly to the VIX index from Cboe, which measures the 30-day implied volatility of Wall Street’s primary equity benchmark, the S&P 500.
The futures have officially been integrated on Hyperliquid, with active trading set to commence this Tuesday following a minor scheduling update, according to information from Volmex.
This novel perpetual market enables speculators to take long or short positions on the volatility index directly, bypassing the need to convey volatility stances indirectly through options, a strategy that demands substantial capital and advanced derivatives knowledge.
The release arrives as the digital asset sector experiences deeper institutional adoption, welcoming a more diverse mix of participants including hedge funds, volatility traders, options-income providers, and additional entities.
Cole Kennelly, the founder and CEO of Volmex Labs, stated that the introduction of BVIV Index perpetual futures on Hyperliquid serves as a major breakthrough for digital asset traders and investors. He added that the premier bitcoin volatility index is now accessible for trading on the premier onchain perpetual futures platform, streamlining hedging, speculation, and direct exposure to bitcoin volatility.
Denominated and collateralized in USDC, the BVIV perpetual product supports up to 5x leverage upon its debut. The Seda oracle network bridges the Volmex index to the onchain Markets exchange.
Integrating BVIV futures broadens Hyperliquid’s existing array of perpetual contracts linked to digital currencies, equities, traditional indices, and raw materials. The protocol maintains a fully diluted valuation surpassing $90 billion.
As the premier decentralized marketplace for perpetual futures globally, Hyperliquid handles daily trading volumes reaching billions of dollars. It has evolved into a primary destination for participants looking to voice their market perspectives, particularly during weekends when conventional financial markets remain closed.
Markets by Kinetiq, an onchain perpetual futures platform developed on Hyperliquid, spearheaded the listing alongside collaborators Volmex and Perps.inc. This initiative represents the inaugural joint market deployment among the three entities, as well as the first instance of Volmex’s bitcoin volatility index securing an onchain perpetual futures venue.
Justin Greenberg, co-founder and CTO of Kinetiq Markets, remarked that with the Bitcoin Volmex Implied Volatility Index and the collaborative deployment structure behind it, they are doing more than simply listing another token; they are validating a scalable framework for Markets by Kinetiq. He noted that partners like Perps.inc and Volmex supply the offerings while Markets delivers the platform.
Originally published at https://www.coindesk.com/markets/2026/09/21/perp-futures-linked-to-bitcoin-vix-debut-on-hyperliquid.
