Bitwise Hype ETF應用：加密ETF的新領域？

超流動性（炒作）ETF的鑽頭文件，可能是針對偏置的加密投資的開門門。 SEC會給綠燈嗎？

Bitwise HYPE ETF Application: A New Frontier for Crypto ETFs?

Bitwise Hype ETF應用：加密ETF的新領域？

Hold onto your hats, crypto enthusiasts! Bitwise just tossed its name into the ETF ring with an application for a Hyperliquid (HYPE) ETF. Could this be the start of something big for DeFi in the ETF world? Let's dive in.

抓住您的帽子，加密愛好者！ Bitwise剛剛將其名稱扔進了ETF環中，並應用了超流動性（HYPE）ETF的應用。這可能是ETF世界中Defi的開始的開始嗎？讓我們潛水。

What's the Hype About HYPE?

關於炒作的炒作是什麼？

Hyperliquid is a Layer 1 blockchain known for its decentralized finance (DeFi) focus, especially perpetual futures trading. Its native token, HYPE, isn't just a pretty face; it powers the ecosystem by offering trading fee discounts and handling blockchain transaction payments. Bitwise seems to think HYPE has serious potential, calling Hyperliquid a standout protocol that combines the best parts of Bitcoin, Ethereum, and Solana.

Hyproliquid是一個以其分散融資（DEFI）的重點，尤其是永久期貨交易而聞名的第1層區塊鏈。它的本地令牌炒作不僅是一張漂亮的臉蛋。它通過提供交易費用折扣和處理區塊鏈交易付款來為生態系統提供動力。 Bitwise似乎認為Hype具有巨大的潛力，稱Hyplliquid是結合了比特幣，以太坊和Solana最佳部分的出色協議。

Bitwise Steps Up to the Plate

鑽頭走到盤子

Bitwise filed an S-1 with the SEC to launch this first-of-its-kind ETF, aiming to directly hold HYPE tokens. This means investors could gain exposure to Hyperliquid's value without directly holding the token themselves. The proposed ETF also supports in-kind creations and redemptions, allowing shares to be swapped for HYPE tokens, potentially cutting costs and simplifying operations.

Bitwise向SEC提交了S-1，以啟動這一首先使用ETF，旨在直接持有炒作令牌。這意味著投資者可以在不直接保持代幣本身的情況下獲得超流動式價值的影響。擬議的ETF還支持實物創造和贖回，允許將股份換成炒作令牌，可能削減成本並簡化運營。

The Regulatory Road Ahead

前方的監管道路

Don't get too excited just yet. Bitwise needs to submit Form 19b-4 to kick off the official SEC review, which could take up to 240 days. Also, Bitwise noted that there are no Hyperliquid futures registered with the CFTC, which could influence the SEC's timeline. The SEC has been dragging its feet on altcoin ETF applications, so this could be a long road.

不要太興奮。 Bitwise需要提交19b-4表格以開始SEC官方審查，最多可能需要240天。同樣，Bitwise指出，沒有在CFTC上註冊過度的期貨，這可能會影響SEC的時間表。 SEC一直在Altcoin ETF應用程序上拖著腳，因此這可能是一條漫長的道路。

Market Dynamics and Competition

市場動態和競爭

While the HYPE ETF application is groundbreaking, it arrives amidst growing competition in the perpetual futures DEX arena. Aster, a BNB Chain-based DEX, has been making waves with significant trading volume. So, while HYPE is innovative, its long-term success isn’t guaranteed.

儘管炒作ETF應用程序正在開創性，但它在永久期貨Dex競技場的競爭中越來越多。基於BNB鏈的DEX Aster一直在交易量很大。因此，儘管炒作具有創新性，但它的長期成功並不能保證。

Potential Impact and Personal Musings

潛在的影響和個人沉思

If approved, this ETF could be a game-changer. It would provide traditional investors with regulated access to HYPE, potentially boosting its market visibility and liquidity. It's a big step towards wider adoption.

如果獲得批准，此ETF可能會改變遊戲規則。它將為傳統投資者提供受監管的炒作機會，從而有可能提高其市場的可見性和流動性。這是邁向更廣泛採用的重要一步。

Personally, I think this move by Bitwise is a bold one. It highlights the growing interest in DeFi and the potential for crypto to integrate further into mainstream finance. However, regulatory hurdles and market competition will be significant challenges.

就我個人而言，我認為這一舉動是大膽的。它強調了對Defi的日益興趣以及加密貨幣進一步融入主流金融的潛力。但是，監管障礙和市場競爭將是重大挑戰。

What Does This Mean for HYPE?

這對炒作意味著什麼？

Despite the exciting news, HYPE's price has remained relatively flat. It's currently trading around $42.32, down from its all-time high. Howard Lindzon, CEO of Stocktwits, even chimed in, calling it "Degeneracy for all as it should be..priced in real time." Ouch! But even with price fluctuations, Hyperliquid continues to strengthen its ecosystem, launching its native stablecoin, USDH, and seeing increased treasury allocations.

儘管有令人振奮的消息，但Hype的價格仍然相對平坦。目前，它的交易價格約為42.32美元，低於歷史最高水平。 Stocktwits的首席執行官霍華德·林宗（Howard Lindzon）甚至被插入了，稱其為“對所有人的墮落。哎喲!但是，即使價格波動，超流動性仍在繼續增強其生態系統，推出其本地Stablecoin，USDH，並看到國庫分配的增加。

The Bottom Line

底線

Will the SEC give the green light? Only time will tell. But one thing's for sure: Bitwise is shaking things up and pushing the boundaries of what's possible in the crypto ETF world.

SEC會給綠燈嗎？只有時間會證明。但是可以肯定的是：Bitwise正在搖動東西，並突破了加密ETF世界中可能的界限。

So, keep your eyes peeled, folks. The world of crypto ETFs is about to get a whole lot more interesting. And who knows, maybe one day we'll all be trading HYPE ETFs while sipping lattes in a zero-gravity coffee shop. A guy can dream, right?

因此，請睜大眼睛，伙計們。加密ETF的世界將變得更加有趣。誰知道，也許有一天我們都會在一家零重力咖啡廳裡飲拿鐵一邊交易炒作。一個人可以做夢，對嗎？