Bitwise BHYP Launch Sparks Fresh Rally in HYPE Token
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In crypto markets, Bitwise’s BHYP spot ETF launched on May 15 on the NYSE and sparked a rally in Hyperliquid’s HYPE token, which climbed near $47 before trading around $43.75 and extended a recovery from January lows near $22. Coinbase’s USDC partnership and expected revenue upside bolster Hyperliquid’s DeFi/DEX adoption and token fundamentals, though analysts warn profit-taking risk could pressure near-term performance.
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- Bitwise’s BHYP launch pushed HYPE higher as institutional interest in Hyperliquid accelerated.
- Coinbase’s USDC partnership strengthened Hyperliquid’s ecosystem and boosted revenue expectations.
- Analysts warned HYPE could face profit-taking pressure despite strong ETF-driven momentum.
Hyperliquid’s HYPE token jumped this week after Bitwise launched its spot Hyperliquid ETF, BHYP, on the NYSE on May 15. The launch marked one of the first U.S.-listed spot investment products tied directly to HYPE. HYPE briefly climbed near $47 before trading around $43.75, according to CoinMarketCap data.
The move extended HYPE’s recovery from January lows near $22 as interest in decentralized perpetual trading platforms continued growing. In a post on X, Bitwise said BHYP offers direct exposure to spot HYPE and uses in-house staking instead of third-party providers. The com…
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Coins
$ 0.99972
0%
$ 0.99947
0%
$ 67.43
+0.58%
$ 0.9939
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Coins
$ 0.99972
0%$ 0.99947
0%$ 67.43
+0.58%$ 0.9939
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