Grayscale filed for a spot HYPE ETF tied to Hyperliquid, adding to the race 
for newer crypto exchange-traded products.

Grayscale Joins Race to Launch Hyperliquid ETF

Kalshi has raised over $1 billion, increasing its valuation to $22 billion in 
just three months, signaling strong investor confidence despite regulatory 
challenges. Hyper-Growth in the ‘ Oracle Economy’ The U.S.-regulated 
prediction market, Kalshi, has reportedly raised more than $1 billion in a new 
financing round, catapulting its valuation to a staggering $22 billion. The 
[…]

Kalshi Hits $22 Billion Valuation as $1 Billion Capital Injection Defies Regulatory Heat

Prominent asset manager Grayscale has moved to launch a HYPE exchange-traded 
fund (ETF) following a recent application with the SEC. This development means 
Grayscale joins a list of growing asset managers with the intention to add an 
HYPE fund to their portfolio. Related Reading: Bitcoin Just Got A $1 Million 
Nudge, But Will Morgan Stanley’s MSBT ETF Really Move The Needle? About The 
Grayscale HYPE ETF According to filings on March 20, Grayscale has now 
submitted an S-1 registration form for the Grayscale HYPE ETF with the US 
Securities and Exchange Commission (SEC). The proposed fund is expected to 
trade on the NASDAQ exchange under the GHYP symbol. For context, HYPE 
represents the native token of Hyperliquid, a layer one blockchain designed to 
enhance the efficiency of decentralized finance applications. One prominent 
feature of Hyperliquid is its ability to facilitate direct perpetual futures 
trading, eliminating the need for gas fees in transactions. Hyperliquid was 
launched in 2023, with HYPE token making its debut in 2024. Since then, the 
altcoin has experienced impressive traction, resulting in a market cap of 
$10.23 billion, making it the 10th largest cryptocurrency in the world, 
according to data from CoinMarketCap. In relation to the Grayscale HYPE ETF, 
Delaware Trust Company will be the designated trustee, while the Bank of New 
York Mellon is the transfer agent, and will serve alongside the co-transfer 
agent Continental Stock Transfer &amp; Trust Company. In addition, the Coinbase 
Custody Trust LLC will serve as custodian of the fund, as practiced with other 
Grayscale ETFs. The fund’s prospectus also states there is the possibility of 
engaging in staking in the future. However, this would only occur after the 
staking condition has been satisfied. Alongside Grayscale, other asset 
managers looking to launch a HYPE ETF include 21Shares and Bitwise. Notably, 
the SEC under Chairman Paul Atkins has been granting approval to a series of 
crypto-related ETFs in line with advancing President Donald Trump&#8217;s pro-crypto 
agenda. This includes spot ETFs related to XRP, Solana, Dogecoin, Chainlink, 
Avalanche, and Litecoin. Related Reading: XRP Still In Danger Zone Without 
This Key Breakout: Analyst HYPE Price Overview At the time of writing, HYPE is 
trading at $39.44 after a minor 1.18% decline in 24 hours. Meanwhile, altcoin 
has recorded a 38.29% gain in the last month, emerging as one of the standout 
performers in the crypto market. Notably, Coincodex analysts predict HYPE is 
positioned to hit a $88.34 price by year&#8217;s end, representing 124.11% gain on 
present market prices. Featured image from Hyperliquid, chart from Tradingview

Grayscale Files For HYPE ETF – Here’s What To Know

BTQ Technologies has launched the first working implementation of BIP 360 on 
its Bitcoin Quantum testnet. The update allows developers to test quantum- 
resistant bitcoin transactions in a live environment. Bitcoin Quantum Testnet 
Debuts BIP 360 Implementation BTQ Technologies has introduced Bitcoin Quantum 
testnet v0.3.0, marking the first live implementation of Bitcoin Improvement 
Proposal (BIP) 360. […]

BTQ Launches Quantum-Resistant Bitcoin Testnet With BIP 360

While it isn’t clear whether the trader will offload the $148 million worth of 
Bitcoin, whales have been partially blamed for causing considerable sell-side 
pressure in recent months.

Cryptocurrency price in LKR