Grayscale’s Zach Pandl says Hyperliquid could fill the AI compute derivatives gap

Grayscale's research chief sees onchain perpetual futures as a way to hedge one of the hottest inputs in the AI economy AI compute has become one of the most valuable resources in the global economy. Oddly, there is almost no mature way to hedge it. Zach Pandl, Head of Research at Grayscale, thinks Hyperliquid can help change that. In a talk on November 9, 2026, he argued the decentralized exchange is positioned to bring AI compute derivatives onchain and address a major gap in the market. Pandl made his case during a discussion with a16z’s Guy Wuollet Jr. His core point: AI compute is growing in importance within financial markets, but the derivatives market tied to it remains in its infancy.

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