HYPE surges 16% to $45 as Bitwise ETF launch and Coinbase treasury deal ignite Hyperliquid rally!

Hyperliquid's HYPE token jumped 16% over the past 24 hours to trade near $45, briefly touching $47 — its highest level since October — as two catalysts landed in quick succession. Bitwise launched a spot Hyperliquid ETF (ticker: BHYP) offering direct exposure to HYPE with a 0.34% sponsor fee waived for the first month on the initial $500 million in assets. Separately, Coinbase confirmed it will become Hyperliquid's official USDC treasury deployer under the Aligned Quote Asset framework, with USDC supply on the platform already grown to roughly $5 billion.

The broader altcoin tape is running with HYPE: Flare's FLR gained 14% and Unibase's UB rose 11%, while derivatives data show cumulative crypto futures volume up 14% to $220 billion over 24 hours. Canton Network's CC token led all majors in open interest growth and cumulative volume delta, buoyed by reports that IntellectEU will help…