Bitwise dey seek SEC approval for Spot Hyperliquid (HYPE) ETF

Bitwise Asset Management don file S-1 registration with USA SEC for spot Hyperliquid (HYPE) ETF. Di fund go hold HYPE tokens direct under Coinbase Custody Trust Company, make dem fit do cash and in-kind creations plus redemption without leverage or derivatives. Key info like exchange listing, ticker symbol plus fee structure still dey wait SEC review and Form 19b-4 filing, as Hyperliquid no get CFTC registered futures. Hyperliquid na one Layer-1 blockchain wey dey power decentralized derivatives exchange. HYPE token dey cover platform fees, governance and incentives. But supply dey worry: 237.8 million HYPE tokens dey vest every month from November (around $500 million), while buybacks only cover 17% of unlock. Former BitMEX CEO Arthur Hayes don sell him position. HYPE fall 1.5% on the filing day and 24% for the past week, trading near $42. Institutional interest dey rise. VanEck don propose spot-staking HYPE ETF for USA and related ETP for Europe, wey dey offer regulated staking rewards. Regulatory wahala still dey: SEC don delay several altcoin ETF applications. Approval of spot Hyperliquid ETF go be big milestone for institutional access to HYPE token and wider mainstream adoption.