The filing targets HYPE, the token linked to Hyperliquid, an onchain perpetual futures decentralized exchange (crypto trading platform without intermediaries).
Summary
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Terms & Concepts
ETF: An exchange-traded fund that lets investors gain exposure to an asset through a listed investment product.
Perpetual futures: A crypto derivatives product with no expiry date, often used for leveraged trading.
DEX: A decentralized exchange, a trading platform that allows users to transact directly on blockchain-based systems.