Bitwise files S-1 for spot HYPE ETF
Key Takeaways
- Bitwise filed an S-1 with the SEC to launch a spot ETF holding the HYPE token from Hyperliquid.
- The proposed ETF aims to provide HYPE exposure via traditional brokerage accounts with Coinbase Custody as custodian.
Bitwise Asset Management has filed an S-1 registration statement with the Securities and Exchange Commission for a spot trust that will hold HYPE, the native token of perpetual DEX Hyperliquid. The vehicle is structured to reflect the token’s value through a daily net asset value benchmark.
The trust is designed to give investors exposure to HYPE via traditional brokerage accounts without directly managing the asset. Coinbase Custody Trust Company is expected to serve as custodian, while Bitwise Investment Advisers will act as sponsor.
According to the filing, shares will be created and redeemed in large blocks by authorized participants, mirroring the structure of spot Bitcoin ETFs. The trust will not use derivatives or leverage, focusing solely on physically backed holdings of HYPE.
HYPE rose 4% on the news, trading at $42.5 as of press time.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Updates: Major Institutions Withdraw and Liquidity Shortage Causes Sharp Bitcoin Decline
- Bitcoin fell 30% to $87,000 amid record ETF outflows, leveraged liquidations, and shrinking stablecoin liquidity, worsening institutional confidence. - November saw $3.5B withdrawn from Bitcoin ETFs, while Solana's ETFs attracted $531M in a week, highlighting capital migration to alternatives. - Market structure weaknesses—40% lower daily volume and 30% reduced liquidity—exacerbate self-reinforcing sell-offs as ETFs track macroeconomic sentiment. - Regulatory scrutiny of foreign crypto hardware and wanin
Solana News Update: The Latest Battleground in Crypto—Upbit Breach Reveals Government-Backed Cyber Risks
- Upbit, South Korea's top crypto exchange, pledged full reimbursement after a $36.8M hack targeting Solana assets, suspected to be orchestrated by North Korean hackers. - The breach exploited compromised hot wallets, with stolen funds rapidly laundered via Ethereum across 185 wallets, prompting cold storage transfers and asset freezes. - Regulators and experts linked the attack to North Korea's Lazarus Group, citing similarities to past heists and advanced multi-chain laundering techniques. - Upbit suspen
Unlocking the Potential of Underappreciated Industrial Properties in Post-Industrial Regions: A Strategic Review of Webster, NY’s Approach to Redevelopment
- Webster , NY redeveloped its Xerox brownfield into a shovel-ready industrial hub via $9.8M FAST NY Grant infrastructure upgrades. - Public-private partnerships (PPPs) like the $650M fairlife® dairy project reduced risks while creating 250 jobs and boosting residential property values. - The model slashed industrial vacancy rates to 2% and demonstrated scalable growth through advanced manufacturing, environmental remediation, and mixed-use connectivity. - Investors gain dual-income streams from industrial
Bitcoin News Update: Traditional Finance Tightens Grip: MSCI Faces $8.8B Crypto Withdrawal Risk
- MSCI plans to exclude firms holding over 50% crypto assets from major indexes starting January 2026, risking $8.8B in potential sell-offs if adopted widely. - MicroStrategy (MSTR), holding 90% of assets in Bitcoin , faces forced institutional sell-offs as the most exposed company under the proposed rule. - Institutional investors show divided reactions: FourThought increased MSCI stakes while Prudential cut holdings by 59.6% amid governance debates. - JP Morgan's $2.8B MSTR outflow estimate triggered soc
Trending news
MoreCrypto prices
More
