tech
Bitcoin is cratering, but a new Wall Street crypto hype is on the rise
As bitcoin dropped to its lowest price since 2024, investors flock to a new type of crypto investment linked to the hyperliquid platforms, HYPE ETFs.
TL;DR
- HYPE ETFs, tracking the Hyperliquid decentralized exchange, have attracted close to $150 million in assets.
- This contrasts with the significant asset outflows from spot Bitcoin ETFs.
- Hyperliquid's revenue model, where 99% of platform fees buy back the HYPE asset, appeals to traditional investors.
- ETFs provide an easier entry point for investors compared to direct interaction with decentralized exchanges.
- The platform is currently unavailable in the U.S., with expected regulatory clarity and potential U.S. access around 2027.