- Bitwise filed an S-1 with the SEC to launch a spot Hyperliquid ETF, aiming to directly hold HYPE tokens.
- HYPE trades at $42, with analysts eyeing a potential rebound toward $55 if key support levels hold.
- Hyperion DeFi expanded its treasury by $10M in HYPE, signaling strong institutional confidence despite rising DEX competition.
Bitwise just took the first step toward launching a spot Hyperliquid ETF, filing an S-1 form with the SEC. If approved, the ETF would directly hold HYPE tokens and allow investors to redeem shares for actual tokens rather than just cash. While Bitwise hasn’t revealed which exchange would list it or what fees will apply, the move signals growing institutional interest in the Hyperliquid ecosystem. Still, the process is far from over—Bitwise needs to submit a 19b-4 filing next, and approval could take up to 240 days.
Technicals Show Path Toward $55
At the time of writing, HYPE trades at $42, sitting in a key technical support zone. Analyst Ali Charts noted that repeated tests of Fibonacci retracement levels have built a strong base. If that base holds, price could push toward the $55 target in the coming weeks. Chart indicators suggest the token may be forming a “golden zone” for expansion, setting up a potential rebound despite increasing pressure from rival exchanges.
Institutional Players Are Piling In
Adding to the optimism, Hyperion DeFi expanded its treasury by $10 million in HYPE tokens, boosting total holdings to more than 1.7 million. The purchase underlines institutional conviction that Hyperliquid has long-term staying power. Yet, competition is heating up. Aster DEX has already surpassed Hyperliquid in trading volume and open interest, showing that HYPE will need both strong fundamentals and ETF tailwinds to maintain momentum.
