Nate Geraci
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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. So-called HYPE exchange-traded funds are taking in new assets from investors at a time when the leading crypto bets, including bitcoin and ether, are tanking. In May, Bitwise and 21shares launched spot ETFs tracking indexes for HYPE, a decentralized crypto asset that operates on its own blockchain, hyperliquid.