Grayscale's HYPG ETF is widely anticipated to launch soon. They are the worlds largest crypto asset manager with $20bn+ of AUM.

In their latest research report, they dive into the growth story and current valuation of HYPE, claiming "Hyperliquid sits at the intersection of two regulatory gaps in the U.S.: perpetual futures and decentralized exchanges—both of which are now moving toward clearer frameworks."

https://x.com/Grayscale/status/2059641231752433983?s=20

🌉 Large Deposit - $4.07M by Wintermute #1 [dash] [tx]

🟢 #xyz:JPY Liquidated Short: $144.42K at $159.4797 [dash] [chart] 💥

🟢 #xyz:JPY Liquidated Short: $115.58K at $159.5413 [dash] [chart] 💥

🌉 Large Deposit - $5.40M by Wintermute #1 [dash] [tx]

🔴 #ZEC Liquidated Long: $51.00K at $552.14 [dash] [chart]

🔴 #ZEC Liquidated Long: $60.90K at $551.998 [dash] [chart]

🔴 #ZEC Liquidated Long: $80.99K at $551.8193 [dash] [chart]

🔴 #ZEC Liquidated Long: $98.10K at $551.4218 [dash] [chart]

🔓 Large HYPE Unstake Finalized: 100.0K HYPE ($5.98M) by Tummy Spot [dash] [chart]

🟢 #xyz:JPY Liquidated Short: $92.45K at $159.5105 [dash] [chart]

🟢 #xyz:JPY Liquidated Short: $67.79K at $159.6262 [dash] [chart]

🔴 #HYPE Liquidated Long: $75.32K at $59.419 [dash] [chart]

🔴 #HYPE Liquidated Long: $70.55K at $59.4264 [dash] [chart]

🔴 #ZEC Liquidated Long: $64.58K at $550.0575 [dash] [chart]

🔴 #HYPE Liquidated Long: $72.24K at $59.1531 [dash] [chart]

🔴 #ZEC Liquidated Long: $207.33K at $549.1349 [dash] [chart] 💥💥

🔴 #ETH Liquidated Long: $182.35K at $2,046.00 [dash] [chart] 💥💥

🔴 #xyz:MSTR Liquidated Long: $123.14K at $153.9294 [dash] [chart] 💥

🔴 #BTC Liquidated Long: $77.41K at $74,630.00 [dash] [chart]