🚨 Bitwise’s HYPE ETF: Revolution or Rigged System? 🤑

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In the shadowed corners of the DeFi realm, a token named HYPE stirs, its glow flickering like a moth trapped in a capitalist chandelier. Institutions, those vultures in tailored suits, circle it now, whispering promises of liquidity and growth. Yet one must ask: who truly profits when the market’s alchemy turns code into cash?

Hyperliquid’s HYPE, that digital bauble, now dangles before investors like a siren’s song. Regulated channels? A mirage, perhaps, but one that glimmers with the allure of legitimacy. Or is it merely a cage polished to perfection?

Bitwise Files For First HYPE ETF

Bitwise Investment Advisers, that modern-day scribe of financial hieroglyphs, has etched its latest decree upon the SEC’s stone tablet: an ETF tethered to HYPE. This contraption, they claim, will hold the token directly, offering investors a taste of Hyperliquid’s “value.” In-kind creations and redemptions? A clever dance of tokens and shares, swapping cash for crypto like peasants trading grain for gold. But let us not forget: every system has its toll.

NEW: @BitwiseInvest files for Hyperliquid ETF. HYPE

– James Seyffart (@JSeyff) September 25, 2025

The SEC’s Form 19b-4 looms like a bureaucratic colossus, demanding 240 days of patience-or is it purgatory? Generic listing standards, they say, will hasten approval. Yet Bitwise, ever the realist, notes the absence of Hyperliquid futures at the CFTC. A fast track? Unlikely. The machine grinds slowly, and the gears are greased with legal jargon.

Hyperliquid, The Standout in Crypto

Bitwise’s analyst, that prophet of profit, hails Hyperliquid as a paragon of protocols, a “standout” in crypto’s crowded bazaar. Does it blend Bitcoin’s mystique, Ethereum’s chaos, and Solana’s speed? Perhaps. But if you’re crypto-native and unimpressed, is it your ignorance-or the hype itself?

Hyperliquid is a defining protocol of the space. You see the best parts of Bitcoin, Ethereum and Solana all over the ethos and execution.

I truly believe that if you are crypto native and don’t like Hyperliquid it’s simply due to the fact that you don’t know enough about it.

– carlisle (@0xcarlisle) September 26, 2025

Should this ETF be born, it would mark a milestone-a bridge between Wall Street’s stone age and crypto’s wild frontier. Institutions, those leviathans of capital, would wade into Hyperliquid’s waters, their regulated fins slicing through the market’s murk. Yet one wonders: what creatures lurk beneath the surface?

HYPE Price Stays Flat

Despite the fanfare, HYPE slumbers at $42.32, a price as stagnant as a bureaucrat’s coffee. Since its peak of $59.30, it has tumbled 25%, a descent as graceful as a bear market in a tutu. Howard Lindzon of Stocktwits quips, “Degeneracy for all as it should be… priced in real time.” A noble sentiment, though one suspects his portfolio dances to a different tune.

He likens today’s climate to Web2’s golden age, where early-stage investors feasted while the rest of us sipped from the crumbs. Public markets, he claims, may yet outshine private deals. Or is this merely nostalgia for an era where “disruption” meant selling ads for a browser?

Hyperliquid Strengthens Its Ecosystem 

Hyperliquid, that Layer 1 titan, builds its fortress on decentralized finance, its walls fortified with perpetual futures. Recently, it birthed USDH, a stablecoin tethered to USDC, trading $2 million in its infancy. A lifeline for the drowning, perhaps? Or a new chain to bind the unwary?

The HYPE treasury swells with $10 million from Hyperion DeFi, a gesture that reeks of confidence-or hubris. 1.7 million tokens hoarded, a digital gold rush. One can almost hear the clinking of virtual coins in the dark.

What an ETF Could Mean for HYPE 

The HYPE narrative, once whispered in dark forums, now echoes through boardrooms. Institutional interest? Check. Ecosystem support? Check. An ETF? The final act in a play where the audience is both hero and fool. Regulated exposure, higher liquidity, and a “resilient ecosystem”-terms as hollow as a Ponzi scheme’s promises.

This is no revolution. It is a ritual. The SEC’s green light? A lottery ticket. The outcome? Time, that unyielding judge, will decide. Until then, we dance in the shadows of progress-or is it just a rigged system with better branding?

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2025-09-26 12:46