DeutschBitwise files for the first Hyperliquid ETF in the US. HYPE is the most popular young blockchain the crypto market has to offer. Less than a year old, the project is already one of the largest representatives in the entire industry. Why is ETF expert James Seyffart optimistic about the filing?
Trade many different cryptocurrencies without a wallet with our CFD broker test winner Plus500 - 7 days a week.
Bitwise Files for Hyperliquid ETF
On Friday, US asset manager Bitwise filed for a Hyperliquid spot ETF – according to public documents from the SEC. It is one of more than 90 crypto funds currently in the works in the United States of America.
Hyperliquid is both an independent blockchain and a decentralized crypto exchange that maintains its own cryptocurrency with the HYPE token. The currency serves the DEX as both a utility token and a governance token. HYPE serves the blockchain as a network token with which fees are paid.
With a market value of $47.55 US, HYPE is currently in eleventh place among all cryptocurrencies, measured by their market capitalization. HYPE’s market capitalization is $16 billion US at the time of going to press.
A listed spot ETF could allow new target groups to profit from the token’s success. HYPE started in November 2024. Since then, the cryptocurrency has written a remarkable success story.
You are currently seeing a placeholder content of X. To access the actual content, click on the button below. Please note that data will be passed on to third-party providers.
HYPE ETF Crowned with Success? This is why an ETF Expert is Optimistic
On X, some users are asking whether a HYPE ETF can be crowned with success. After all, there are already more than 90 different crypto ETF applications pending. Apparently, the processing of these applications is not progressing – but this appearance is deceptive.
“Because of the GLS approval, everything remains questionable for the time being. I don’t know the exact timeline, but something will happen in the near future. Many [crypto ETFs] will appear over the next month and beyond,” wrote ETF expert James Seyffart on X.
You are currently seeing a placeholder content of X. To access the actual content, click on the button below. Please note that data will be passed on to third-party providers.
He refers to a GLS approval as a fundamental change in regulatory work that the US Securities and Exchange Commission (SEC) recently made. The previously complex and lengthy approval process is greatly simplified. Experts believe that this is why a flood of new crypto ETFs will come onto the US market.
According to Seyffart, the SEC is taking a few more steps until the new ETF rules are fully established. Because it is not publicly known when the new regulation will come into full force, it is impossible to say when the flood of crypto funds will appear.
If the new crypto investment products suddenly come onto the market in large numbers, institutional inflows into the crypto market could increase sharply and have a positive impact on the price development of the coins concerned.
Initially, the range of approved crypto ETF types is expected to increase from two to 14. This is to be expected, as 14 crypto futures have already been approved in the USA, as Coinbase records show.
So far, only two different types of crypto ETFs have received official approval from the SEC: those that map Bitcoin and Ethereum. The fact that the asset managers REX and Osprey have already found detours for the establishment of the systems should have had an impact on the new regulation.
