Bitwise Asset Management has filed an S-1 registration statement with the Securities and Exchange Commission for a spot trust that will hold HYPE, the native token of perpetual DEX Hyperliquid. The vehicle is structured to reflect the token’s value through a daily net asset value benchmark.
The trust is designed to give investors exposure to HYPE via traditional brokerage accounts without directly managing the asset. Coinbase Custody Trust Company is expected to serve as custodian, while Bitwise Investment Advisers will act as sponsor.
According to the filing, shares will be created and redeemed in large blocks by authorized participants, mirroring the structure of spot Bitcoin ETFs. The trust will not use derivatives or leverage, focusing solely on physically backed holdings of HYPE. HYPE rose 4% on the news, trading at $42.5 as of press time.
Japan's stablecoin adoption is accelerating after AZ-COM Maruwa Holdings, the logistics company responsible for much of Amazon…
Three men have been sentenced to prison in the United Kingdom after orchestrating a sophisticated…
Canadian rap superstar Drake has placed a $1.5 million bet in Tether (USDT) on Argentina to defeat Spain in the 2026 FIFA World Cup…
Galaxy Digital is bringing crypto and AI deeper into mainstream sports after signing a 15-year naming rights…
NOXA, the launchpad responsible for approximately 75% of all token deployments on Robinhood Chain, has abruptly…
Loaded Lions, the flagship NFT collection and Web3 entertainment brand developed by Crypto.com, has opened pre-registration for Mane City…