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Bitwise bets Hyperliquid could power future finance as HYPE ETFs gain traction
Bitwise says investor demand for Hyperliquid exposure is surging as new HYPE ETFs launch.
Updated May 28, 2026, 6:36 p.m. Published May 28, 2026, 6:34 p.m. 2 min read
The bull case: Bitwise believes Hyperliquid benefits from crypto’s changing regulatory climate.
- Rasmussen said projects like Hyperliquid can now launch with stronger token incentives because the industry faces less fear of regulatory crackdowns than in prior cycles.
- He highlighted Hyperliquid’s tokenomics, noting that “99% of fees generated on this platform are used to buy and burn HYPE tokens.”
- Rasmussen compared the mechanism to traditional stock buybacks, arguing it creates an easier narrative for investors to understand.
- Bitwise said it sees long-term upside tied to adoption of perpetuals, tokenization and blockchain-based financial infrastructure.
The risks: Regulatory scrutiny and macro uncertainty remain major concerns.
- Rasmussen acknowledged that U.S. oversight of perpetual futures markets could create pressure for Hyperliquid and similar platforms.
- He also cited inflation concerns, Federal Reserve policy and geopolitical tensions as broader risks affecting crypto markets.
- Traditional exchanges are reportedly pushing regulators to examine Hyperliquid more closely as decentralized competitors gain traction.
- Rasmussen characterized that resistance as typical of incumbents facing disruptive technologies.
Broader view: Financial advisors are moving beyond basic crypto skepticism.
- Rasmussen said wealth managers are increasingly asking about portfolio allocation, tokenization and stablecoins instead of questioning whether crypto will “go to zero.”
- Rasmussen said institutional adoption remains early despite growing interest from firms managing trillions of dollars.
- He described the quality of advisor conversations today as “so much better” than even two years ago.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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