Hyperliquid’s token could be getting exposure to Wall Street, as Bitwise filed to launch an ETF holding the token as crypto futures exchanges hit peak volumes on Thursday.
Bitwise is looking to launch an exchange-traded product tracking Hyperliquid’s token, amid volumes on crypto futures exchanges hitting all-time peak volumes.Asset manager Bitwise has filed to launch an exchange-traded fund that holds and tracks the token tied to the crypto perpetual futures protocol and blockchain Hyperliquid.
The company is bidding to launch the Bitwise Hyperliquid ETF, according to a regulatory filing on Thursday. It would directly hold Hyperliquid , a token that gives discounts on its decentralized exchange token, outstanding contracts yet to be settled, hit $1.15 billion on Thursday, up from under $143 million just days earlier on Saturday, Sept. 20. Meanwhile, open interest on the HYPE token is down 1.85% over the past day to $2.2 billion, with the token’s price having fallen 3.5% over that time to $42.5,
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