HYPE news: Grayscale wants to bring the world's hottest crypto trading frenzy to your brokerage account
Grayscale filed with the SEC to launch a HYPE ETF, capitalizing on the surging popularity of the Hyperliquid network and its native HYPE token.Summary
Grayscale Investments has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) focused on the HYPE token, the native cryptocurrency of the Hyperliquid network. The proposed fund, to be listed on Nasdaq under the ticker GHYP, aims to provide investors with exposure to the rapidly growing decentralized exchange (DEX) and its associated trading volume. Hyperliquid has experienced substantial growth, exceeding $50 billion in weekly derivatives trading volume and generating $1.6 million in 24-hour fee revenue. The platform's appeal extends beyond crypto, offering trading opportunities on traditional assets like oil and gold around the clock. Other asset managers, including Bitwise and 21Shares, have also filed for HYPE ETFs. Analysts, such as Arthur Hayes of BitMEX, predict significant potential for the HYPE token, suggesting a possible price increase to $150, while Bitcoin and Ethereum have seen declines this year.
(Source：CoinDesk)