Perpetual futures on the Bitcoin Volmex Implied Volatility Index (BVIV) debuted on Hyperliquid on Monday, giving traders on the onchain exchange a way to bet on the degree, not direction, of bitcoin’s price swings.
The BVIV Index, often described as a “bitcoin VIX,” tracks cryptocurrency’s expected 30-day implied or expected volatility in real time. The index is analogous to Cboe’s VIX index, which tracks the 30-day implied volatility in Wall Street’s benchmark equity index, S&P 500.
The new perpetual market lets traders go long or short the volatility index directly, instead of having to express volatility views indirectly through options, an approach that is capital-intensive and requires derivatives expertise.
The launch comes as the digital-asset market becomes increasingly institutionalized, drawing in a broader mix of participants – from hedge funds, volatility traders, options-income sellers and beyond.
“The launch of…
