#ETF与衍生品 Seeing Bitwise's Hyperliquid ETF about to launch with a fee rate of 0.67%, I have to be honest — these types of derivative ETF launches are often the easiest tools to trap retail investors.

Remember how many people rushed into various leveraged ETFs and derivative products in the early days, thinking they could double their money quickly? And what happened? They got liquidated in a wave of extreme market conditions. I almost fell into that trap myself back then, but luckily I pulled out in time.

The issue isn't that Bitwise is unreliable, but we need to think clearly: do you really need to make money through derivative ETFs? What is the essence of these products? High fees + leverage mechanisms + amplified volatility may seem tempting, but they are actually tools for market manipulators to harvest profits.

Most importantly, many people can't even tell whether they are investing or gambling. While derivative exchanges like Hyperliquid offer good liquidity, the risks also multiply. The ETF format looks more "formal," but it's just a different wrapper — the core hasn't changed.

My simple advice: if you haven't been in the market long enough or haven't developed a stable risk assessment system, avoid these kinds of products. Focus on building a solid foundation, understand what true value investing is, and don't be fooled by the "official endorsements" of new products. The longer you stay in the game, the more real money you'll make.