Bitwise files for first U.S. Spot HYPE ETF – Details inside!

**Bitwise Files Groundbreaking U.S. Spot HYPE ETF Application as Cryptocurrency Market Eyes Major Growth**

Bitwise Asset Management has submitted a filing for the first U.S. spot HYPE exchange-traded fund (ETF), marking a significant milestone in cryptocurrency investment products. This pioneering ETF application represents another major step forward for institutional crypto adoption following the success of Bitcoin spot ETFs earlier this year.

Market sentiment around HYPE remains bullish, with Polymarket prediction markets currently pricing a 32% probability of the cryptocurrency reaching a $70 price target during Q4 2024. This betting market data reflects growing investor confidence in HYPE's potential performance as decentralized finance (DeFi) tokens continue gaining mainstream traction.

The proposed HYPE ETF would provide traditional investors direct exposure to the cryptocurrency without requiring digital wallet management or blockchain technical knowledge. If approved by the SEC, this spot ETF could accelerate institutional adoption and potentially drive significant price appreciation for HYPE tokens.

Bitwise's filing demonstrates the expanding cryptocurrency ETF landscape, offering retail and institutional investors regulated access to emerging digital assets beyond Bitcoin and Ethereum, potentially reshaping the broader crypto investment ecosystem.