Bitwise Hype ETF应用：加密ETF的新领域？

超流动性（炒作）ETF的钻头文件，可能是针对偏置的加密投资的开门门。 SEC会给绿灯吗？

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

Bitwise Hype ETF应用：加密ETF的新领域？

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，加密爱好者！ Bitwise刚刚将其名称扔进了ETF环中，并应用了超流动性（HYPE）ETF的应用。这可能是ETF世界中Defi的开始的开始吗？让我们潜水。

What's the Hype About HYPE?

关于炒作的炒作是什么？

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是一个以其分散融资（DEFI）的重点，尤其是永久期货交易而闻名的第1层区块链。它的本地令牌炒作不仅是一张漂亮的脸蛋。它通过提供交易费用折扣和处理区块链交易付款来为生态系统提供动力。 Bitwise似乎认为Hype具有巨大的潜力，称Hyplliquid是结合了比特币，以太坊和Solana最佳部分的出色协议。

Bitwise Steps Up to the Plate

钻头走到盘子

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，以启动这一首先使用ETF，旨在直接持有炒作令牌。这意味着投资者可以在不直接保持代币本身的情况下获得超流动式价值的影响。拟议的ETF还支持实物创造和赎回，允许将股份换成炒作令牌，可能削减成本并简化运营。

The Regulatory Road Ahead

前方的监管道路

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.

不要太兴奋。 Bitwise需要提交19b-4表格以开始SEC官方审查，最多可能需要240天。同样，Bitwise指出，没有在CFTC上注册过度的期货，这可能会影响SEC的时间表。 SEC一直在Altcoin ETF应用程序上拖着脚，因此这可能是一条漫长的道路。

Market Dynamics and Competition

市场动态和竞争

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.

尽管炒作ETF应用程序正在开创性，但它在永久期货Dex竞技场的竞争中越来越多。基于BNB链的DEX Aster一直在交易量很大。因此，尽管炒作具有创新性，但它的长期成功并不能保证。

Potential Impact and Personal Musings

潜在的影响和个人沉思

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.

如果获得批准，此ETF可能会改变游戏规则。它将为传统投资者提供受监管的炒作机会，从而有可能提高其市场的可见性和流动性。这是迈向更广泛采用的重要一步。

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.

就我个人而言，我认为这一举动是大胆的。它强调了对Defi的日益兴趣以及加密货币进一步融入主流金融的潜力。但是，监管障碍和市场竞争将是重大挑战。

What Does This Mean for HYPE?

这对炒作意味着什么？

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.

尽管有令人振奋的消息，但Hype的价格仍然相对平坦。目前，它的交易价格约为42.32美元，低于历史最高水平。 Stocktwits的首席执行官霍华德·林宗（Howard Lindzon）甚至被插入了，称其为“对所有人的堕落。哎哟!但是，即使价格波动，超流动性仍在继续增强其生态系统，推出其本地Stablecoin，USDH，并看到国库分配的增加。

The Bottom Line

底线

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会给绿灯吗？只有时间会证明。但是可以肯定的是：Bitwise正在摇动东西，并突破了加密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，请睁大眼睛，伙计们。加密ETF的世界将变得更加有趣。谁知道，也许有一天我们都会在一家零重力咖啡厅里饮拿铁一边交易炒作。一个人可以做梦，对吗？