SEC shift on tokenized stocks + USDC inflows lift Hyperliquid HYPE

Hyperliquid’s HYPE is up about 24% in six days, trading near $47.6–$47.8, as a reported SEC shift could open the door for third-party tokenization of stocks without direct issuer consent. Traders see this as a tailwind for tokenized-stock venues and derivatives infrastructure linked to Hyperliquid. On the stablecoin side, the article highlights a Coinbase–Circle USDC arrangement within Hyperliquid’s “Aligned Quote Asset” framework. HYPE can capture up to ~90% of reserve income from USDC deposits. With platform USDC balances above $5B, estimates point to potential HYPE buyback flows of roughly $135M–$160M annually, and higher upside if deposits keep growing. The piece also cites record real-world asset (RWA) open interest around ~$2.6B. Demand catalysts add momentum: Bitwise’s BHYP ETF started trading on the NYSE on May 15, and the article claims 10% of management fees are used to buy and hold spot HYPE and stake it on-chain. It also notes strong fee contribution (about 40% of blockchain fees last week) and HYPE moving into the top-10 non-stablecoin altcoins by market cap. On-chain/technical checks remain constructive. A wallet attributed to Andreessen Horowitz reportedly added ~372,000 HYPE in a short window. Traders track a cup-and-handle setup with resistance levels near ~$48.74, $50.52, and a cycle ceiling around ~$55. The bullish view strengthens on a daily close above ~$48.74, while losing momentum on a break below ~$46.03. For HYPE traders, the market narrative is straightforward: regulatory clarity for tokenized equities plus USDC-driven reserve income is reinforcing near-term upside bias, while technical levels define the risk points.