Bitwise’s Latest Hyperliquid ETF Filing Brings the Spot HYPE Race Closer to Market

CryptoProwl

Sat, April 11, 2026 astatine 4:24 PM CDT 2 min read

Bitwise appears to beryllium moving person to launching a spot Hyperliquid exchange-traded money aft filing a 2nd amendment with the U.S. Securities and Exchange Commission that added the ticker BHYP and acceptable a 0.67% absorption fee. If approved, the merchandise would commercialized connected NYSE Arca and springiness investors nonstop vulnerability to the terms of Hyperliquid’s $HYPE token.

What gives the update a spot much signifier is that the filing present reads little similar an aboriginal connection and much similar a merchandise being prepared for market. The amended prospectus says the trust’s superior nonsubjective is to way the worth of HYPE held by the fund, portion a secondary nonsubjective is to make further HYPE done staking. 

That makes Bitwise’s attack somewhat broader than a plain spot wrapper and gives the money a much differentiated illustration if it makes it done the support process.

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Bitwise was the archetypal plus manager to record for a spot Hyperliquid ETF successful September. 21Shares followed successful October, and Grayscale joined the tract successful precocious March, turning what mightiness person looked similar a niche filing into a much competitory contention astir 1 of crypto’s newer high-momentum tokens. 

Bloomberg elder ETF expert Eric Balchunas said the latest filing details suggest the merchandise could motorboat soon.

The setup arrives arsenic Hyperliquid itself continues to pull attention. HYPE is up astir 65% since the commencement of 2026 and astir 182% implicit the past year, portion the protocol generated $492.7 cardinal successful first-quarter derivatives volume. 

That operation is helping propulsion Hyperliquid from a fast-growing protocol communicative into thing issuers progressively presumption arsenic ETF-ready.

The Hyperliquid (CRYPTO: $HYPE) cryptocurrency is presently trading astatine $42.34 U.S. per integer token.