Hyperliquid news

Grayscale has registered statutory trusts for BNB and Hyperliquid (HYPE) ETFs in Delaware, a precondition before filing S‑1 registration statements with the SEC. The trust filings, dated Jan 8, precede the formal applications that detail structure, strategy and risks. The move follows the SEC’s approval of generic crypto‑ETF listing standards, eliminating the need for asset‑specific rule changes and expediting the process. VanEck has similarly filed for a spot BNB ETF and plans an HYPE token ETF, while Grayscale’s HYPE proposal marks the firm’s youngest product launch. Grayscale currently operates nine live crypto ETFs covering BTC, ETH, XRP and others, and has filed for additional altcoin funds. Market data shows BNB trading around $892 (+0.84 %) and HYPE near $25.92, down 2.5 % amid a broader pullback.

Ripple confirmed it has no plans to go public, citing a robust balance sheet and a focus on internal growth. The company raised $500 million at a $40 billion valuation in November and has spent nearly $4 billion on acquisitions in 2025, expanding into brokerage, stable-coin payments, custody and treasury services. Flare introduced FXRP, a wrapped XRP token, giving spot exposure on Hyperliquid’s DEX, while JPMorgan extended JPM Coin to the Canton network. Morgan Stanley filed a spot Ethereum ETF, and Bitwise’s CIO warned that crypto will need stable markets, regulatory clarity and calm equities to sustain a 2026 rally.

Flare announced that FXRP, its XRP representation, is now available for spot trading on Hyperliquid’s on-chain orderbook, beginning with an FXRP-USDC pair. This marks the first time XRP holders can obtain spot exposure on Hyperliquid, a high‑performance Layer‑1 platform that has seen $185 million in 24‑hour volume. FXRP leverages Flare’s FAssets system and LayerZero’s omnichain token standard, allowing cross‑chain movement and later bridging back to the XRP Ledger while maintaining XRPL as the settlement layer. Hyperliquid’s orderbook model offers tighter spreads and reliable execution, appealing to larger traders seeking hedge or risk‑management tools, and gives Hyperliquid users a new large‑cap asset without centralized custody. FXRP can also be bridged back to Flare for XRPFi services such as lending and staking, keeping the entire cycle on‑chain.

Flare listed FXRP, a wrapped XRP token, on Hyperliquid, giving the platform its first spot exposure to XRP. The pair is FXRP/USDC, after only perpetual futures were offered. FXRP is a 1:1 wrapped token via Flare’s FAssets system, using LayerZero to trade on Hyperliquid and redeem back to XRP on the XRP Ledger. The move fills infrastructure gaps that blocked a native spot listing. Flare plans a bridge for one-click withdrawals and aims to make FXRP the preferred XRP representation across DeFi, expanding to other platforms. The listing fits its XRPFi strategy, which includes earnXRP and stXRP.

Crypto tokens exceeding $657 million will be unlocked in the first week of January 2026. Hyperliquid (HYPE) will release 12.46 million tokens on Jan 6, worth $330.5 million, awarding core contributors. Ethena (ENA) will unlock 171.88 million tokens on Jan 5, valued at $42.9 million, split between core contributors and investors. Aptos (APT) will unlock 11.31 million tokens on Jan 11, worth $21.9 million, allocated to core contributors, community, investors and the foundation. These releases will add liquidity and may trigger price swings. Other projects such as Linea, Movement, and IOTA will also see new supply entering the market. The unlocks represent a small percentage of each ecosystem’s circulating supply, with HYPE’s 3.6%, ENA’s 2.37%, and APT’s 0.70%.

Hyperliquid Labs will receive its first major allocation of 1.2 million HYPE tokens (~$312 m) on Jan 6 after the tokens were unstaked for distribution to team members. The native token, capped at 1 billion, has a market cap of $6.2 bn and a fully diluted value of $25.1 bn. The HYPE distribution schedule will follow a 6th‑of‑month cadence, with 23.8 % of the supply reserved for core contributors under a one‑year cliff and 24‑month vesting. Hyperliquid remains the largest perps DEX, but its market share has shrunk amid rivals like Lighter and Aster.

Hyperliquid co-founder Iliensinc disclosed on Discord that 1.2 million HYPE tokens will be unstaked on December 28, 2025 and distributed to team wallets on January 6, 2026. The company confirmed that any future team releases will occur on the 6th of each month, giving a predictable monthly unlock schedule. Core team members currently own 23.8% of the 1 billion token supply, subject to a one-year cliff and linear vesting that ends in 2027. At the time of announcement HYPE traded at about $25.38, down 0.65% in 24h, with a market cap of $8.6 billion, indicating relative stability amid the distribution talk.

Lighter, a major rival to Hyperliquid’s perpetual DEX, is tightening its launch plans as its team announces it is finalizing key processes ahead of the token generation event (TGE) slated for Dec. 31. The project has released 250 million LIT tokens—25 % of supply—to the community, sparking speculation that an airdrop is imminent. Polymarket’s prediction market shows 86 % of traders betting that Lighter will conduct a user airdrop before the year’s end, with $9.5 million in backing volume. The platform’s airdrop allocation form is open until Friday, allowing eligible users to designate up to four wallets for their share. Lighter’s airdrop hype is amplified by Hyperliquid listing the Lighter token against USDC, and Coinbase’s inclusion of Lighter on its roadmap. The project, backed by Founders Fund and Ribbit Capital, has already raised $68 million and positioned itself as the second‑largest perp DEX after Hyperliquid.

Hyperliquid said the wallet that sold roughly 4,000 HYPE tokens ($134,000) in a single day in November is owned by a former employee terminated in Q1 2024, and is no longer associated with the company. The co‑founder, Iliensinc, clarified that the address does not reflect Hyperliquid Labs’ standards or values. The co‑founder also reiterated the firm’s strict trading policy: employees and contractors may not trade HYPE derivatives or use material non‑public information. Hyperliquid maintains accountability and a high ethical bar for all team members.

Hyperliquid Labs denied insider‑trading claims after a wallet flagged as shorting HYPE. The address 0x7ae4c156e542ff63bcb5e34f7808ebc376c41028 is not linked to any current employee; the holder was terminated Q1 2024. The firm reiterated its trading policy, banning HYPE derivatives by staff and enforcing zero‑tolerance insider trading, with violations triggering dismissal and legal action. These statements arrive just before a validator vote that could permanently burn nearly $1 billion of HYPE from the Assistance Fund, cutting over 10 % of the token’s supply, and may affect Hyperliquid’s reputation and market position.