Options Begin Trading on Bitwise’s BHYP ETF After Hyperliquid Posts $244 Billion in 30-Day Perpetual Volume

Options on Bitwise’s BHYP ETF have started trading after Hyperliquid processed roughly $244 billion in 30-day perpetual trading volume. According to NS3.AI, BHYP began trading on the NYSE on May 15 and holds spot HYPE with in-house staking built into the fund. Bitwise said in an SEC filing that non-concurrent trading hours could cause BHYP to gap at the open and trade at a premium or discount to its net asset value. The filing also noted that open interest of 50,000 contracts would reference roughly 2.8 million HYPE, representing more than $200 million in notional terms at recent prices.