Finance•Yesterday
Bitcoin is cratering, but a new Wall Street crypto hype is on the rise
In one very small, and at least to date obscure, corner of the crypto market, investors are rushing in rather than heading for the exits. In May, Bitwise and 21shares launched spot ETFs tracking indexes for HYPE, a decentralized crypto asset that operates on its own blockchain, hyperliquid. Volume quickly reached roughly $1 billion a day in crude oil alone, said Stephen Coltman, 21shares vice president and head of macro.
