Crypto News: Bitwise Moves Closer to Hyperliquid ETF Launch With Updated Filing

Key Takeaways Bitwise Asset Management files second amendment for Hyperliquid ETF.Proposed ticker BHYP and 0.67% fee signal potential near-term launch.Competing filings from Grayscale Investments and 21Shares.Hyperliquid ecosystem shows strong growth, with rising trading volume and token performance. Bitwise Updates Filing, Signals ETF Launch Readiness Bitwise Asset Management has taken another step toward launching a spot Hyperliquid ETF by submitting a second amended filing with the U.S. Securities and Exchange Commission. The updated filing includes: Proposed ticker: BHYPManagement fee: 0.67% According to Bloomberg ETF analyst Eric Balchunas, such details are typically added shortly before a product launch, indicating the ETF could go live soon. Race Intensifies for First Hyperliquid ETF Bitwise is competing with other asset managers seeking to launch the first ETF tied to Hyperliquid: Grayscale Investments21Shares Bitwise was the first to file in September, followed by 21Shares in October and Grayscale in March. If approved, the ETF is expected to trade on NYSE Arca, offering investors exposure to the spot price of Hyperliquid. Staking Feature Could Differentiate Product Earlier filings indicate that Bitwise’s ETF may include staking-based yield generation, a feature not explicitly outlined by competing issuers. This could provide: Additional returns beyond price exposureDifferentiation in a growing ETF marketIncreased appeal to yield-seeking investors Hyperliquid Ecosystem Gains Momentum The ETF push comes as Hyperliquid’s native token HYPE continues to gain traction: Up ~65% year-to-date in 2026Up ~180% over the past 12 monthsQ1 trading volume reached ~$492.7 billion The protocol is emerging as a major player in decentralized derivatives trading. Expanding Crypto ETF Market The potential launch of a Hyperliquid ETF reflects a broader expansion of crypto investment products beyond Bitcoin and Ethereum. Key implications: Increasing institutional access to alternative crypto assetsGrowing competition among ETF issuersInnovation in product structures, including staking yields If approved, the BHYP ETF could mark a new phase in crypto ETFs, bringing DeFi-linked assets into regulated investment vehicles.