Hyperliquid (HYPE) should be valued against the $600 trillion global market, not the $3 trillion crypto universe. This is how Bitwise Chief Investment Officer Matt Hougan created the fast-growing futures platform.
Hougan said BHYP, the Bitwise Hyperliquid ETF, is close to $60 million as of mid-May on the NYSE. He called it the most powerful crypto ETP launch since Bitcoin.
Bitwise CIO Says Hyperliquid Is A Gen 2 Token
Hougan said HYPE differs from previous tokens. The platform crosses almost all trading costs shopping.
“I think it will take time for investors to realize that this is a sign of Gen 2. It’s like a new version. It’s not like the old ones,” he said. he realized on Friday interview with Nate Geraci.
HYPE traded close to $68 on Saturday, up 10% in 24 hours. It ranked 11th in market value, according to BeInCrypto data.
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Why Hyperliquid Tracks $600 Trillion in Assets
Hougan created Hyperliquid as a fintech project, not a crypto play.
“This is not a crypto app. This is a financial app that uses crypto in the background to create a new financial experience that is in many ways better than the old system.”
He said non-crypto assets like S&P 500 perpetuals are already oil making half the permanent volume.
“Earlier today, Nate, about 50% of the volume is in non-crypto assets. I think eventually it will be 90% plus volume.”
Competition and Access to the US Remains Risky
Hougan accepted the death threat. He named NYSE, CME and DeFi protocols as preparing to challenge Hyperliquid.
“… there will be a lot of competition for Hyperliquid in the future, and there is no guarantee that it will win.”
US investors still cannot trade directly on foreign exchanges. The Company recommendations BHYP ETF it invests about 70% of its products using Bitwise infrastructure.
The company also sends 10% of the management fees to HYPE on its website.
A note Bitwise CEO Thinks Hyperliquid Is Bigger Than Crypto Market appeared for the first time BeInCrypto.
