Bitwise to Launch Spot ETF for Altcoin Hyperliquid (HYPE)

Bitwise Asset Management has submitted a second amendment to its SEC filing for the "Bitwise Hyperliquid ETF", indicating an imminent launch. The ETF will trade under the ticker "BHYP" with an annual management fee of 0.67%. Bloomberg ETF analyst Eric Balchunas believes this is a sign that the product will be launched soon.

Bitwise Asset Management has submitted a second amendment to its U.S. Securities and Exchange Commission (SEC) filing for the "Bitwise Hyperliquid ETF," signaling that the product is nearing regulatory approval and a potential market launch. The proposed ETF will trade under the ticker symbol "BHYP" and will carry an annual management fee of 0.67%. Bloomberg ETF analyst Eric Balchunas has noted that such updates typically precede final approval by 30–60 days, suggesting that the product could be available for trading in the near future.

The Bitwise Hyperliquid ETF aims to provide investors with exposure to HYPE, the native token of the Hyperliquid blockchain platform, which is designed to facilitate on-chain derivatives trading. Hyperliquid combines the speed and user experience of traditional exchanges with the transparency of blockchain infrastructure, operating with a fully on-chain order book. The platform has seen increased trading volumes and user activity over the past year, reflecting growing demand for transparent alternatives to centralized trading venues.

The proposed 0.67% fee for the Bitwise Hyperliquid ETF is positioned competitively within the cryptocurrency ETF landscape. It is higher than fees for Bitcoin ETFs but lower than those for more specialized crypto products, reflecting the unique nature of Hyperliquid's decentralized perpetual contract mechanism. If approved, the ETF would offer traditional investors a regulated avenue to access emerging decentralized finance (DeFi) infrastructure.

The product is part of Bitwise's broader strategy to expand its range of staking-enabled crypto ETPs. The firm has previously launched several institutional-grade staking ETPs in Europe, including the newly launched Bitwise Hyperliquid Staking ETP (BHYP), which is available on Deutsche Börse Xetra. This product is fully backed by HYPE tokens held in cold storage and is designed to capture staking-related returns without requiring investors to manage wallets or on-chain staking processes.

Investors should be aware that the proposed ETF involves risks, including volatility, liquidity, custody, and regulatory uncertainties. The SEC's cautious approach to cryptocurrency ETFs means that approval is not guaranteed, and the final outcome will depend on the agency's evaluation of the application.