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Journalist<\/p>\n
\t\t\t\t\t\t\t\t\t\tPosted: September 26, 2025<\/p>\n
\t\t\t\t\t\t\t\tKey Takeaways
\nWhy does the Bitwise HYPE ETF filing matter?<\/p>\n
If approved, it will be the first spot HYPE ETF in the U.S., allowing exposure to one of the fastest-growing crypto ecosystems.\u00a0\u00a0\u00a0<\/p>\n
What\u2019s next for the HYPE price?<\/p>\n
HYPE has dropped 31% and erased the September gain amid short-term headwinds.\u00a0<\/p>\n
The $15 billion digital asset manager, Bitwise, has filed<\/a> for the first U.S. Spot Hyperliquid [HYPE]<\/a> ETF.\u00a0<\/p>\n The update comes after the SEC unveiled a new and faster general listing standard (GLS) for crypto ETFs ahead of a massive wave of approvals expected in October.<\/p>\n This would allow U.S. investors a much more convenient exposure to HYPE without worrying about wallet keys and security. A similar product is already live<\/a> in the European market, via 21Shares ETP.\u00a0<\/p>\n As such, if the Bitwise proposal is approved, it would lift the altcoin to the level of Bitcoin [BTC]<\/a>, Ethereum [ETH]<\/a>, and Solana [SOL]<\/a>, which have ETF and crypto treasury demand.\u00a0<\/p>\n Timeline and market reactions<\/p>\n Bloomberg ETF analyst James Seyffart was positive about the SEC greenlighting the application in the \u2018near future.\u2019 He said<\/a>,\u00a0<\/p>\n \u201cKinda up in air with the GLS approval. I don\u2019t know the exact timing, but near future. So technically we likely have many that will be coming in the next month+\u201d<\/p>\n Despite the positive outlook, HYPE has been under pressure amid a broader sell-off and competition from rival perpetual DEX like Aster.\u00a0<\/p>\n In fact, over the past week, a key whale has offloaded<\/a> over $130 million of HYPE. The large player reduced its position by nearly half to 2.63 million HYPE (about $110M). <\/p>\n He rotated some of the profits to ASTER, further reinforcing rival competitors as HYPE\u2019s short-term headwind.\u00a0<\/p>\n That being said, with the ETF expectation and corporate treasury trend, will HYPE\u2019s recovery odds improve?\u00a0<\/p>\n In fact, Polymarket betters were assigning a 32% probability that HYPE could reach $70 by 2025.<\/p>\n As of writing, though, HYPE\u2019s speculative interest as measured by Open Interest (OI) was down 16% from $2.2 billion to $1.88 billion.\u00a0<\/p>\n The dip in demand in the Futures market and weak sentiment have dragged HYPE lower by 31%. It has dropped from $59.6 to $49 and attempted to hold above $40 at the time of writing.\u00a0<\/p>\n Source: HYPE\/USDT, TradingView<\/p>\n The $40 aligned with the range low of a megaphone (white). A breakout below the pattern would be bearish, while a bullish breakout would be positive for HYPE.\u00a0<\/p>\n Meanwhile, whether the ETF expectation will ease the caution linked to upcoming monthly unlocks<\/a> remains to be seen.\u00a0<\/p>\n \t\t\t\t\t\t\t\t\t\t\tPrevious: Why is the crypto market crashing today? Macro uncertainty, shutdown fears, and more!<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n![\"HYPE](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/09\/HYPE_USD-Average_2025-09-26_12-41-36.png\"\/)
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