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- Bitwise has submitted S1 for an ETF tracking HYPE.<\/li>\n
- It would be the first ETF tied to a perp DEX token.<\/li>\n
- Approval could see Hyperliquid exploding to new highs.<\/li>\n<\/ul>\n
$15B asset manager Bitwise seems prepared for the next chapter of digital finance.<\/p>\n
The company has filed with the US Securities & Exchange Commission for an exchange-traded fund (ETF) tracking Hyperliquid\u2019s native coin, HYPE.<\/p>\n
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BITWISE FILED FOR A HYPERLIQUID ETF<\/p>\n
ANY $HYPE<\/a> BULLS STILL AROUND? pic.twitter.com\/UdReTcfzAI<\/a><\/p>\n
\u2014 0xMarioNawfal (@RoundtableSpace) September 25, 2025<\/a><\/p>\n<\/blockquote>\n
The S-1 application<\/a> gained traction as a HYPE ETF would be the first of its kind, offering market players regulated access to a perpetual decentralized exchange token.<\/p>\n
That signals the growing influence of DeFi and increasing pressure on Wall Street to expand cryptocurrency offerings beyond the top Bitcoin and Ethereum.<\/p>\n
Understanding Hyperliquid<\/h2>\n
Hyperliquid is a decentralized platform designed specifically for DeFi undertakings.<\/p>\n
While traditional blockchains often incorporate multiple use cases, Hyperliquid zeroes in on perpetual futures (perps) trading \u2013 a derivatives product that\u2019s gaining remarkable attention in the cryptocurrency markets.<\/p>\n
Notably, perps allow traders to speculate on future prices of assets without expiry dates.<\/p>\n
That has made them attractive to institutions and experienced traders seeking heightened liquidity and flexibility.<\/p>\n
Most importantly, Hyperliquid boasts a high-frequency infrastructure that handles the market with speed and efficiency.<\/p>\n
This has seen the DEX create a sought-after niche in the blockchain industry.<\/p>\n
Bitwise\u2019s HYPE ETF application reflects confidence in the broader cryptography technology and Hyperliquid\u2019s role in the future of decentralized finance (DeFi).<\/p>\n
A exchange-traded fund approval would be a game-changer for US investors and the DEX.<\/p>\n
Hyperliquid might boom to levels that the BitMEX co-founder predicted as institutional players join.<\/p>\n
Pension funds, retail broker accounts, and hedge funds will have a regulated exposure to HYPE via a familiar product: the ETF.<\/p>\n
Americans will gain frictionless access to a high-frequency decentralized asset, something that has been somewhat intimidating for non-crypto-native investors.<\/p>\n
Everyday investors can use brokerage apps to buy into the altcoin\u2019s exposure without the hurdles of creating wallets and exploring DEXs.<\/p>\n
Challenges ahead<\/h2>\n
While the application stirred optimism, approval remains far from guaranteed.<\/p>\n
The US SEC has taken a cautious approach to cryptocurrency ETFs, often citing concerns like investor protection, liquidity, and market manipulation.<\/p>\n
Furthermore, Bitwise\u2019s filing comes as the regulator delays its decision on multiple altcoin exchange-traded funds, including Pengu, Avalanche, and Sei.<\/p>\n
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\ud83d\udea8 JUST IN: The SEC has postponed decisions on the Canary Spot Pengu, Grayscale Spot Avalanche, and Canary Spot Staked Sei ETFs. pic.twitter.com\/pY828lU62o<\/a><\/p>\n
\u2014 Crypto Briefing (@Crypto_Briefing) September 25, 2025<\/a><\/p>\n<\/blockquote>\n
Moreover, questions linger whether the SEC can endorse an ETF of an asset with a primary utility linked to high-risk perpetual trading.<\/p>\n
The regulator will likely prioritize balancing investor safety and innovation when reviewing the application.<\/p>\n
HYPE price action<\/h2>\n
The alt lost 0.2% in the past day to hover at $42.43.<\/p>\n
![\"\"](\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/09\/HYPE-Chart.jpg\")
<\/p>\nHYPE has declined from its mid-September all-time highs of $58.<\/p>\n
Meanwhile, its current outlook mirrors ongoing broader market declines.<\/p>\n
Cryptocurrencies extended their downside yesterday after the US revised GDP data<\/a>.<\/p>\n
Bitcoin trades below $110,000 as cryptocurrencies follow September\u2019s history of bearish performance.<\/p>\n