#ETF与衍生品 The derivatives market is once again making new moves! Bitwise has just submitted a revised filing for the Hyperliquid ETF, with stock code BHYP and a fee rate of 0.67%. This usually indicates that the product is about to be officially launched.

This development is worth paying attention to for several reasons: First, ETFs serve as a bridge between traditional finance and the crypto world, and each new product launch expands institutional investors' access; second, Hyperliquid, as a representative of high-performance derivatives trading platforms, becoming an ETF underlying asset itself demonstrates that decentralized trading infrastructure has gained mainstream recognition; finally, the scaling and productization of the derivatives track are enabling more people to participate in the Web3 ecosystem with lower barriers.

We often say that DeFi is complex and has high entry barriers, but through innovative products like ETFs, complex underlying technologies and trading logic are simplified into a stock code. Isn't this a successful practice of Web3 popularization among the masses? In the future, such products will become more numerous, and on-chain asset liquidity will continue to rise.

The true future is gradually taking shape within these seemingly insignificant product iterations.