Bitwise files for spot Hyperliquid ETF amid perp DEX wars

Bitwise is looking to launch an exchange-traded product tracking Hyperliquid’s token, amid volumes on crypto futures exchanges hitting all-time peak volumes.

Asset manager Bitwise has filed to launch an exchange-traded fund that holds and tracks the token tied to the crypto perpetual futures protocol and blockchain Hyperliquid. 

The company is bidding to launch the Bitwise Hyperliquid ETF, according to a regulatory filing on Thursday. It would directly hold Hyperliquid (HYPE), a token that gives discounts on its decentralized exchange (DEX) and is used to pay fees on its blockchain.

The filing doesn’t yet identify the exchange on which the product would trade, the ticker under which it would trade, or the fees Bitwise will charge.

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