HYPE surges over 10% after Robinhood confirms spot listing
TL;DR
Robinhood announced the inclusion of the HYPE token for trading on its Robinhood Crypto platform.
HYPE’s price reacted immediately, rising over 10.8% to surpass $40.
The listing coincides with Hyperliquid Strategies’ plan to raise $1 billion to accumulate HYPE.
The HYPE token, native to the decentralized exchange Hyperliquid, experienced a notable rally this Thursday, October 23, soaring more than 10.8% in the last 24 hours. The surge, which brought the asset above the $40 mark at the time of the news, occurred immediately after the U.S. brokerage giant, Robinhood, confirmed the token’s inclusion on its Robinhood Crypto platform.
The announcement, made via a post on X, allows users of the popular app to trade HYPE. This announcement is significant for the Hyperliquid ecosystem, which is currently positioned as the top decentralized exchange (DEX) for perpetual futures (perps) by trading volume, handling over $11.5 billion in the last 24 hours.
However, the token’s inclusion on Robinhood comes with certain limitations. The platform specified that HYPE will not be available through its “smart order routing” feature (which seeks the best prices across multiple liquidity venues) nor will it be part of “Legend,” Robinhood’s advanced trading interface designed for professional crypto users.
The Listing Coincides with Hyperliquid’s Expansion Plans
The news comes at a crucial time for the project. Just one day earlier, on October 22, Hyperliquid Strategies filed an S-1 prospectus with the U.S. Securities and Exchange Commission (SEC).
This document details the company’s plans to raise up to $1 billion through a public offering of 160 million shares. The main goal of this fundraising is to accumulate and stake HYPE tokens for a digital asset treasury (DAT). According to the filings, Hyperliquid Strategies, formed from the merger of Sonnet BioTherapeutics and Rorschach I, already holds 12.6 million HYPE and $305 million in cash.
Robinhood’s move also fits into a competitive market context. It occurs less than 24 hours after the same platform announced support for BNB, Binance’s token.
This decision is noteworthy given that Binance’s founder, Changpeng “CZ” Zhao, is an active investor (via YZi Labs) in Aster, a direct competitor DEX for perpetuals to Hyperliquid. Adding to this dynamic is Coinbase, Binance’s main U.S. competitor, which also revealed plans to list BNB amid public disputes over listing policies on centralized exchanges.
Filed under: News - @ October 23, 2025 3:24 pm