bitwise filed for a hyperliquid etf. ticker bhyp, 67 basis points. first perps dex getting packaged for tradfi. hype generated $650m revenue this year with 99% going to buybacks. team unlocks are 10m tokens monthly but etf inflows could absorb months of selling pressure. cantor fitzgerald published overweight research same week. wall street wants exposure to a protocol doing $308b volume without touching a dex ...