Written by Brian Quarmby, Staff Writer. Reviewed by Felix Ng, Staff Editor. Bitwise edges closer to Hyperliquid ETF launch with second amended filing
Bitwise added the ticker $BHYP and a 0.67% management fee in its latest filing, signaling a potential launch soon, according to Bloomberg's senior ETF analyst.
Bitwise Asset Management has taken a key step toward launching its proposed spot Hyperliquid exchange-traded fund, filing a second amended registration statement with the US Securities and Exchange Commission.
In a post on X on Friday, Bloomberg senior ETF analyst Eric Balchunas said that Bitwise had updated its Hyperliquid ETF to include the ticker $BHYP and had also set a management fee of 0.67%.
According to Balchunas, the filing of these details typically indicates that the product will "launch soon."
"HYPE is up 200% in the past year," he said, adding that the firm was likely trying to “strike“ while the iron is hot.
The filing comes as other asset managers are also trying to launch the first spot ETF tied to Hyperliquid in the US, with Grayscale and 21Shares also pushing for similar products of their own.
Bitwise was the first to submit a Hyperliquid ETF filing with the SEC in September. 21Shares followed a month later with its own, while Grayscale submitted its filing in late March.
Source: Eric Balchunas
If approved, Bitwise's ETF will trade on the NYSE Arca exchange and offer investors exposure to the spot price of Hyperliquid.
In the firm's first amended registration statement in December, Bitwise also indicated that the fund would seek to generate additional returns from HYPE staking — something Grayscale and 21Shares haven't explicitly said their funds would do.
Hyperliquid price gains in 2026
According to data from CoinGecko, the price of HYPE is up 65% since the start of 2026 to around $41.96 at the time of writing, despite a tough start to the year for the broader crypto market. Over 12 months, the price of HYPE has also increased by about 182%.
Related: BlackRock Bitcoin ETF sees $269M inflows, best day since early March
Alongside a strong token performance, blockchain analytics platform CoinGlass reported in early April that Hyperliquid had broken into the top 10 crypto derivatives platforms by volume, joining the likes of Binance, OKX and Bybit.
During Q1, Hyperliquid generated $492.7 billion in trading volume, putting it shy of Coinbase by about $90 billion.
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