Bitwise launches US-listed Hyperliquid fund with staking rewards

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HYPE token price. Source: CoinGecko Related: Wells Fargo lifts Ether ETF holdings in Q1 as Bitcoin positions shift The launch comes as institutional interest in Hyperliquid and HYPE-linked investment products expands across crypto asset managers, venture capital firms and trading platforms. Earlier this week, 21Shares launched its THYP Hyperliquid fund in the US, drawing about $1.2 million in net inflows and $1.8 million in trading volume on its first trading day, according to Bloomberg ETF analyst James Seyffart. Grayscale Investments is also awaiting a decision on its proposed Hyperliquid fund. On Wednesday, onchain analytics account Lookonchain said wallets linked to venture capital company Andreessen Horowitz had accumulated about $67 million worth of HYPE over the previous month and staked roughly $51 million worth of the token. Source: Lookonchain The following day, Coinbase announced it would become the official treasury deployer for USDC (USDC) on Hyperliquid, where the stablecoin’s supply has grown to around $5 billion since the network launched in 2023, according to DeFiLlama data. As Hyperliquid gains traction as a decentralized derivatives exchange, centralized crypto companies have also expanded deeper into perpetual futures and offshore derivatives markets through new trading products and international launches. Earlier this year, Coinbase launched stock perpetual futures for eligible non-US users, while Kraken rolled out tokenized equity perpetual futures tied to assets including Nvidia (NVDA), Apple (AAPL) and Tesla (TSLA) for offshore clients. Magazine: ETH stalls at $2.4K five times, SOL to rally to $120: Market Moves More on the subject

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