Bitwise Pushes SEC for Groundbreaking HYPE ETF Approval

Wall Street's crypto innovators make another power play.

THE REGULATORY GAMBIT

Bitwise just dropped its latest filing with the Securities and Exchange Commission—a bold move that could reshape how traditional investors access crypto's most explosive sector. The HYPE ETF proposal represents the firm's most aggressive push yet into thematic digital asset exposure.

MARKETS WATCHING CLOSELY

Industry insiders are tracking this development as the SEC faces mounting pressure to approve more sophisticated crypto products. Bitwise's track record with previous ETF approvals gives this filing particular weight among institutional circles.

THE FINE PRINT

While the filing details remain confidential during the review process, sources confirm the fund would target emerging blockchain technologies that traditional finance typically ignores. The structure reportedly bypasses several regulatory hurdles that stalled earlier crypto ETF attempts.

Because nothing says 'innovation' like wrapping disruptive technology in century-old financial packaging.

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A leading cryptocurrency investment manager, Bitwise Investment Advisers, has filed a new ETF application with the U.S. Securities and Exchange Commission (SEC). In the S-1 document submitted to the SEC, Bitwise revealed its intention to introduce the first ETF based on Hyperliquid’s mainnet asset, the HYPE coin. This application marks a new phase in the growing interest in crypto-based ETFs within the U.S. market.

ContentsBitwise’s Hyperliquid ETF ApplicationSEC’s Decision Awaits on Altcoin ETFs

Bitwise’s Hyperliquid ETF Application

The proposed ETF aims to track the performance of the HYPE coin, which is linked to the Hyperliquid Blockchain. Hyperliquid functions as a LAYER 1 Blockchain tailored specifically for decentralized finance applications, with a particular focus on perpetual futures trading. If approved, the ETF would enable investors to access HYPE through a traditional stock market setting.

According to Cryptoappsy data, the price of HYPE coin dropped by 16.22% in the last 24 hours, reaching $42. With a circulating supply of 270.8 million, the altcoin boasts a market capitalization of $14 billion, making it the 21st largest cryptocurrency. Notably, HYPE coin recently reached an all-time high of $59.04.

SEC’s Decision Awaits on Altcoin ETFs

Concurrently with Bitwise’s application, the SEC has postponed decisions on various other altcoin ETF applications. The pending applications include Canary’s SUI and PENGU ETFs, as well as staked ETFs for INJ and SEI. Additionally, applications for Avalanche ETFs submitted by Grayscale and VanEck have been delayed similarly.

The cautious stance of the SEC has led to numerous crypto ETF applications awaiting approval. The regulatory body’s decision to extend the approval process contributes to ongoing uncertainty in the market, even as the number of ETF applications continues to rise swiftly.

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