Kategorie: Ethereum News

• Hyperliquid has launched its general-purpose EVM dubbed HyperEVM.
• The HyperEVM integrates with Hyperliquid’s L1 consensus mechanism for security.
• The Hyperliquid Bug bounty offers up to $1M for identified bugs.

Hyperliquid, the layer-1 blockchain platform, has launched HyperEVM, its general-purpose Ethereum Virtual Machine (EVM).

The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system. The initial mainnet release of the HyperEVM includes:

1. HyperEVM blocks built as part of L1 execution,… pic.twitter.com/sleqk1N7T5

— Hyper Foundation (@HyperFND) February 18, 2025

This move marks a crucial step in Hyperliquid’s mission to integrate comprehensive financial programmability into its high-performance ecosystem.

HyperEVM is integrated into Hyperliquid’s L1 consensus mechanism

The HyperEVM will not operate as a standalone chain but is deeply integrated into Hyperliquid’s existing layer-1 consensus mechanism, known as HyperBFT. This integration ensures that the EVM inherits the robust security features of Hyperliquid’s base layer.

Notably, the blocks of HyperEVM are constructed as part of the L1 execution, providing seamless interaction between the EVM and native components of the Hyperliquid network. This setup allows for the HYPE token, native to Hyperliquid, to be fungible with the gas token used within the HyperEVM, enhancing the platform’s liquidity and user experience.

HyperEVM has been assigned a chain ID of 999, and a JSON-RPC server has been made available to encourage node operators and other builders to host their own servers, thereby decentralizing access to the network.

In addition, recognizing the nascent state of tooling and analytics around the new EVM, Hyperliquid is streaming raw HyperEVM block data to S3 in real-time. This approach allows developers to index the blockchain without the necessity of running their own nodes, easing the burden on new entrants to the ecosystem.

While the initial release includes key features like spot transfers between native HYPE and HyperEVM HYPE, and the deployment of the WHYPE system contract for DeFi applications, Hyperliquid plans to introduce general ERC20 transfers and precompiles in future upgrades.

This staggered rollout strategy aims to minimize disruption to existing users while adding new functionalities, demonstrating Hyperliquid’s commitment to both innovation and stability.

The Hyperliquid bug bounty program

In tandem with the EVM launch, Hyperliquid has introduced a comprehensive bug bounty program. This initiative is designed to fortify the system’s security by incentivizing developers to find and report vulnerabilities.

Rewards under the bug bounty program can scale up to 1 million USDC, depending on the severity of the security issue identified.

The program covers a broad spectrum of potential vulnerabilities, including those that might cause system outages or errors in the nodes or API servers.

For the HyperEVM on the mainnet, bug hunters can report issues related to the integration of EVM with Hyperliquid’s native functionalities.

The post Hyperliquid launches its general-purpose EVM and unveils bug bounty program appeared first on CoinJournal.

• Cboe has submitted a 19b-4 filing to be allowed to list and trade options on spot Ethereum ETFs.
• The proposal follows high demand for Ethereum ETFs.
• NYSE American has made a similar proposal though it is yet to receive SEC approval.

The Cboe BZX Exchange has officially submitted a 19b-4 filing to the US Securities and Exchange Commission (SEC), seeking approval to list and trade options on spot Ethereum exchange-traded funds (ETFs).

This move signifies a pivotal step for Cboe towards expanding investor access to Ethereum, mirroring the growing demand within the cryptocurrency market.

Cboe seeks to expand its investment tools

Cboe’s proposal aims to broaden the spectrum of investment tools available to market participants. By allowing options trading on Ethereum ETFs, investors would gain an accessible means to engage with Ethereum’s price movements.

The 19b-4 filing includes funds such as those managed by Bitwise and Grayscale, notably the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust, which hold Ethereum as their primary asset.

The exchange posits that these options will serve not only as another avenue for investors to gain exposure to Ethereum but also as a crucial hedging instrument against the inherent volatility of the cryptocurrency market.

Notably, Cboe’s filling follows on the heels of a similar proposal by NYSE American, which has yet to receive SEC approval, with the regulator citing concerns over market manipulation, investor protection, and ensuring a fair trading environment.

The SEC’s hesitance is rooted in Section 6(b)(5) of the Securities Exchange Act of 1934, which emphasizes the protection of investors and the maintenance of fair and orderly markets.

Despite these challenges, Cboe’s proposal is framed as a competitive response to NYSE’s initiative, suggesting a potential market eagerness to see these financial products come to fruition.

Cboe’s approach in the filing underscores that Ethereum ETF options would be governed by the same stringent rules as other fund share options on its platform, including listing requirements, margin rules, and trading halts. This regulatory alignment aims to reassure the SEC of the proposal’s adherence to existing frameworks, similar to those applied to Bitcoin ETF options, which were approved under similar regulatory scrutiny.

The surge in investor interest in Ethereum ETFs

The timing of the Cboe filing coincides with a surge in investor interest in Ethereum ETFs. Recently, these funds have seen unprecedented trading volumes and net inflows.

For instance, on February 4, 2025, Ethereum ETFs recorded net inflows of $307.77 million, the highest single-day inflow of the year, demonstrating robust investor confidence.

This performance not only supports the rationale behind introducing options trading but also highlights the market’s readiness for such financial innovations.

The introduction of options on Ethereum ETFs could potentially stabilize Ethereum’s price by enhancing market liquidity.

Options provide sophisticated risk management tools for institutional investors, allowing them to hedge against price fluctuations. Retail traders might leverage these options for speculative gains.

This could lead to a more mature and stable market environment for Ethereum, fostering greater institutional adoption and contributing to the cryptocurrency’s mainstream financial integration.

Industry experts, like Nate Geraci from The ETF Store, have indicated that the approval process might follow a timeline similar to that of spot Bitcoin ETFs, which took about 8-9 months from launch to options trading approval.

If this precedent holds, we might see options on Ethereum ETFs becoming a reality in the near future, potentially as soon as next month, assuming regulatory hurdles are cleared.

The post Cboe seeks US SEC nod for spot Ethereum ETF options appeared first on CoinJournal.