Bitwise Announces Hyperliquid Spot ETF Launch...0.67% Fee Specified

▲ Hyperliquid (HYPE)/ChatGPT Generated Image

Bitwise Asset Management has filed its second amended registration statement, signaling that preparations for the launch of its Hyperliquid (HYPE) spot ETF are nearing completion.

According to cryptocurrency media outlet Cointelegraph on April 11 (local time), Bitwise Asset Management submitted its second amended registration statement related to the Hyperliquid spot ETF to the U.S. Securities and Exchange Commission (SEC). Bloomberg Senior ETF Analyst Eric Balchunas stated that Bitwise added the ticker BHYP for the product and specified a management fee of 0.67%, noting that such disclosures of detailed conditions are usually interpreted as a signal that a launch is "imminent."

Balchunas pointed out via X (formerly Twitter) that Hyperliquid has risen 200% over the past year, suggesting that Bitwise appears to be targeting a time when market enthusiasm is high. This filing aligns with the intensifying competition to gain an early lead in the Hyperliquid-based ETF market. Bitwise was the first to apply for a related ETF last September, followed by 21Shares a month later, and Grayscale filed its application at the end of March.

If approved, Bitwise's Hyperliquid spot ETF will trade on NYSE Arca, providing investors with investment exposure linked to the spot price of Hyperliquid. Bitwise stated in its first amended registration statement last December that the fund could seek additional returns through HYPE staking, a feature Cointelegraph noted was not explicitly stated in the products from Grayscale and 21Shares.

Hyperliquid is not only competing in product design but also expanding its market presence. Cointelegraph cited CoinGecko data, reporting that HYPE has risen 65% since the start of 2026 and approximately 182% over the past 12 months. Additionally, according to CoinGlass data, Hyperliquid entered the top 10 cryptocurrency derivatives platforms by trading volume in early April, with Q1 trading volume reaching $492.7 billion, trailing Coinbase by approximately $90 billion.

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