Grayscale Files for HYPE ETF as Hyperliquid Trading Surges
- Grayscale has submitted an S-1 registration to the SEC to launch an ETF for the HYPE token, listed under ticker GHYP.
- Hyperliquid’s weekly derivatives trading volume exceeds $50 billion, with over $6.5 billion traded in the last day.
- The Hyperliquid platform has generated $1.6 million in revenue over the past day, outperforming BNB Chain ($335,000) and Bitcoin blockchain ($192,000).
- HYPE token is currently priced around $40, having increased by 57% this year amid a broader market decline for Bitcoin and Ethereum.
The filing reflects growing interest in decentralized exchanges like Hyperliquid, which allows trading of both crypto and traditional assets such as oil and gold around the clock. This surge in activity highlights a shift towards more diverse trading strategies within the cryptocurrency space.
With Hyperliquid’s impressive trading volume and revenue figures, Grayscale’s move to introduce a HYPE ETF could attract significant investor interest as the token continues to perform well amidst market fluctuations.
