Introduction The financial world is witnessing a major shift as the S&P 500 enters the on-chain era. In a landmark move, S&P Dow Jones Indices has partnered with TradeXYZ to launch the first official S&P 500 perpetual contract on Hyperliquid. This innovation transforms one of the most iconic traditional finance benchmarks into a 24/7 tradable crypto-native instrument. What’s changing? Traditionally, the S&P 500 has been limited by market hours, regional access, and brokerage