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Why Is Hyperliquid (HYPE) Ripping Toward $50? 21Shares THYP ETF Update and Oil-Perp Surge Spark Market Volatility
HYPE is holding firm near $43.40–$43.70 as 21Shares drops a fresh amendment on its proposed spot Hyperliquid ETF, proposing the ticker THYP for Nasdaq listing. This update, flagged today by Bloomberg ETF analyst James Seyffart, incorporates SEC feedback and marks another step in the race among 21Shares, Bitwise (BHYP), and Grayscale for the first U.S. spot HYPE product. The news delivered a modest sentiment boost, with the token showing resilience amid broader crypto chop, as traders price in eventual institutional inflows.