Ventuals, a protocol that lets users trade tokenized exposure to private and pre-IPO companies, has crossed $200 million in cumulative trading volume less than three months after launch, according to a Feb. 11 X post from the platform’s co-founder, Alvin Hsia.
The milestone was reached just 17 days after cumulative volume first hit $100 million, on Jan. 24, a level that took the platform 73 days to achieve, Hsia noted.
On-chain data from LorisTools, which tracks activity across Hyperliquid’s HIP-3 products, shows cumulative volume on Ventuals has climbed past $215 million by press time. The platform has recorded 5,342 unique traders and generated over $70,000 in fees since going live in October 2025.
Built on the Hyperliquid blockchain, Ventuals allows traders to take synthetic, leveraged positions tied to the valuations of private companies, including firms such as Anthropic and OpenAI.
The most actively traded product so far is MAG7 — a contract tracking the so-called “Magnificent Seven” U.S. tech companies, which includes Amazon, Apple and Microsoft — which has seen over $4 million in trading volume today, Feb. 12, the data shows.
Alongside the surge in activity, Ventuals’ liquid staking token vHYPE, which represents a claim on the underlying HYPE, Hyperliquid’s native token, rose about 20% to $30, according to CoinGecko data.
