As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future
Published . Updated .
Dragonfly's Haseeb Qureshi said the shift reflects crypto's broader maturation toward tokenized stocks, bonds, and other real-world assets.
Directly affected
- CRCW Crypto
Named in this report.
Indirectly affected
- IBIT iShares Bitcoin Trust
This price moves with the crypto market
- COIN Coinbase
The crypto exchange moves with trading volumes
- MSTR Strategy
This company's value is tied to its bitcoin holdings
- MARA MARA Holdings
Bitcoin miners move with the bitcoin price
- RIOT Riot Platforms
Bitcoin miners move with the bitcoin price
- HOOD Robinhood
Retail trading apps move with crypto volumes
- BHYP BITWISE HYPERLIQUID ETF COM SH
GA selected BHYP as a RELATED security because its canonical security name directly matches this event's themes: hyperliquid. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- GOP UNUSUAL WHALES SUBVERSIVE REPUBLICAN TRADING ETF
GA selected GOP as a RELATED security because its canonical security name directly matches this event's themes: trading. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- KARS KRANESHARES ELECTRIC VEHICLES & FUTURE MOBILITY INDEX ETF
GA selected KARS as a RELATED security because its canonical security name directly matches this event's themes: future. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
- NANC UNUSUAL WHALES SUBVERSIVE DEMOCRATIC TRADING ETF
GA selected NANC as a RELATED security because its canonical security name directly matches this event's themes: trading. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
Price reaction, T-5 to T+3
Dragonfly's Haseeb Qureshi said the shift reflects crypto's broader maturation toward tokenized stocks, bonds, and other real-world assets.
Source: The Block
The price since 17 Sep 2026: Bitwise Hyperliquid ETF (BHYP) versus the S&P 500
Since the first closing price after “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future,” Bitwise Hyperliquid ETF (BHYP) is -16.26%. The S&P 500 fund (SPY) is +0.65% over the same days, a -16.91% difference versus the market.
Who gains and who loses around Bitwise Hyperliquid ETF (BHYP)
Companies carried with this story
- BHYP Bitwise Hyperliquid ETF
For “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future,” Bitwise Hyperliquid ETF (BHYP) is linked, with no stored direction, medium confidence. Reason on file: GA selected BHYP as a RELATED security because its canonical security name directly matches this event's themes: hyperliquid. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- GOP Unusual Whales Subversive Republican Trading Etf
Unusual Whales Subversive Republican Trading Etf (GOP) is linked, with no stored direction, medium confidence in the 17 Sep 2026 story “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future.” Reason on file: GA selected GOP as a RELATED security because its canonical security name directly matches this event's themes: trading. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- KARS Kraneshares Electric Vehicles & Future Mobility Index Etf
For “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future,” Kraneshares Electric Vehicles & Future Mobility Index Etf (KARS) is linked, with no stored direction, medium confidence. Reason on file: GA selected KARS as a RELATED security because its canonical security name directly matches this event's themes: future. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- NANC Unusual Whales Subversive Democratic Trading Etf
In “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future,” Unusual Whales Subversive Democratic Trading Etf (NANC) is linked, with no stored direction, medium confidence. Reason on file: GA selected NANC as a RELATED security because its canonical security name directly matches this event's themes: trading. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- THYP 21Shares Hyperliquid Staking ETF
In “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future,” 21Shares Hyperliquid Staking ETF (THYP) is linked, with no stored direction, medium confidence. Reason on file: GA selected THYP as a RELATED security because its canonical security name directly matches this event's themes: hyperliquid. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- XT Ishares Future Exponential Tech Etf
For “As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future,” Ishares Future Exponential Tech Etf (XT) is linked, with no stored direction, medium confidence. Reason on file: GA selected XT as a RELATED security because its canonical security name directly matches this event's themes: future. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Bitwise Hyperliquid ETF (BHYP)
“As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future” (17 Sep 2026) reaches Bitwise Hyperliquid ETF (BHYP) through this story.
What ties Bitwise Hyperliquid ETF (BHYP) to the headline is this: GA selected BHYP as a RELATED security because its canonical security name directly matches this event's themes: hyperliquid. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Also listed, Unusual Whales Subversive Republican Trading Etf (GOP): GA selected GOP as a RELATED security because its canonical security name directly matches this event's themes: trading. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
The price range for Bitwise Hyperliquid ETF (BHYP), and the dates in the story
BHYP traded between 43.55 and 54.56 across 20 sessions. The latest close on file is 43.57. GOP traded between 43.42 and 45.74 across 20 sessions. The latest close on file is 43.77. KARS traded between 25.93 and 29.19 across 20 sessions. The latest close on file is 26.32.
How strong the case is around Bitwise Hyperliquid ETF (BHYP)
46 out of 100
“As RWA trading surges on Hyperliquid, Dragonfly’s Qureshi makes the case for a multichain future” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.