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Key Takeaways
- Bitwise filed an S-1 with the SEC to launch a spot ETF holding the HYPE token from Hyperliquid.
- The proposed ETF goals to offer HYPE publicity through conventional brokerage accounts with Coinbase Custody as custodian.
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Bitwise Asset Administration has filed an S-1 registration assertion with the Securities and Trade Fee for a spot belief that can maintain HYPE, the native token of perpetual DEX Hyperliquid. The automobile is structured to replicate the token’s worth by means of a every day internet asset worth benchmark.
The belief is designed to present buyers publicity to HYPE through conventional brokerage accounts with out straight managing the asset. Coinbase Custody Belief Firm is predicted to function custodian, whereas Bitwise Funding Advisers will act as sponsor.
In response to the submitting, shares will likely be created and redeemed in giant blocks by licensed individuals, mirroring the construction of spot Bitcoin ETFs. The belief won’t use derivatives or leverage, focusing solely on bodily backed holdings of HYPE.
HYPE rose 4% on the information, buying and selling at $42.5 as of press time.
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