Bitwise is charging ahead with a new crypto ETF, filing for a product tied to Hyperliquid’s HYPE token. The proposed fund would be the first of its kind for the perpetuals-focused blockchain’s asset.
The filing comes as the SEC hits pause on several other altcoin ETF proposals. Decisions were delayed on spot funds for Sui, Pengu, and Avalanche from applicants like Grayscale and VanEck.
This simultaneous action illustrates the two-speed reality of the crypto ETF market: innovation continues apace, but regulatory approval remains a significant bottleneck.
