A new era has arrived: the first spot ETF featuring a pure DeFi protocol token. HYPE has been listed on Nasdaq and NYSE ETFs. ETFs are a gateway for traditional capital, with massive amounts of funds from pension funds and banks starting to enter the market in an orderly manner. This can be said to have truly pushed crypto into the mainstream of capital markets. Its collaboration with Circle to pursue compliance, coupled with this pre-IPO (2024111120230), has completely brought those who short HYPE into the spotlight. They can only be described as incredibly audacious.