Key Takeaways
- • Bitwise has launched the Bitwise Hyperliquid Staking ETP (ticker BHYP; ISIN DE000A4ARTJ5) on Deutsche Börse Xetra, providing institutional investors regulated exposure to HYPE, the native token of the Hyperliquid blockchain derivatives platform.
- • The ETP combines price exposure to HYPE with staking yield capture, eliminating the need for investors to manage private keys or navigate on-chain staking infrastructure directly—marking Bitwise's seventh institutional-grade staking ETP product.
- • The product tracks the Kaiko HYPE Reference Rate LDNLF index and carries a 67 basis point management fee, positioning it competitively within Bitwise's expanding cryptocurrency ETF suite.
- • Hyperliquid's fully on-chain order book and execution model have driven increasing platform adoption, with the protocol recently enabling S&P 500 perpetual futures trading and capturing $72 billion in monthly trading volume.
- • The launch follows prior SEC filings with updated regulatory details, signaling advanced approval discussions and reflecting growing institutional demand for transparent, blockchain-native derivatives infrastructure.
Summary
Bitwise Asset Management has launched the Bitwise Hyperliquid Staking ETP on Deutsche Börse Xetra, expanding its institutional cryptocurrency product offerings into blockchain-based derivatives infrastructure. Announced on April 9, 2026, the ETP trades under ticker BHYP with ISIN DE000A4ARTJ5 and provides exchange-traded exposure to HYPE, the native token powering the Hyperliquid protocol.
The product is structured to deliver dual returns: direct price exposure to HYPE through tracking the Kaiko HYPE Reference Rate LDNLF index, plus embedded staking yield generated by the Hyperliquid network itself. This architecture permits traditional institutional investors to capture protocol-level returns without managing wallet infrastructure, private key security, or direct on-chain staking operations. The ETP carries a 67 basis point annual management fee, reflecting competitive pricing within Bitwise's growing staking ETP suite. This is Bitwise's seventh institutional-grade staking ETP, demonstrating sustained product expansion into yield-generating crypto assets.
Hyperliquid operates as a blockchain-based trading platform combining the speed and user experience of centralized exchanges with on-chain transparency and verifiability. The protocol features a fully on-chain order book and execution system, enabling derivatives trading—including perpetual futures—with all transactions recorded directly on the blockchain. The platform has achieved notable traction over the past year, with trading volumes and user activity increasing substantially. Recent developments include the launch of S&P 500 perpetual futures on Hyperliquid, enabling continuous 24/7 trading and driving approximately $72 billion in monthly trading volume.
Bradley Duke, Managing Director and Head of Europe at Bitwise, positioned the launch as timely, noting that Hyperliquid's fully on-chain model differentiates it from both traditional centralized exchanges and competing cryptocurrency platforms. For traditional institutional investors, the ETP provides regulated, familiar exchange-traded access to an emerging segment of blockchain infrastructure combining high-performance trading with transparency—addressing demand for alternatives to traditional centralized venues while maintaining institutional custody and compliance standards.
The product is structured to deliver dual returns: direct price exposure to HYPE through tracking the Kaiko HYPE Reference Rate LDNLF index, plus embedded staking yield generated by the Hyperliquid network itself. This architecture permits traditional institutional investors to capture protocol-level returns without managing wallet infrastructure, private key security, or direct on-chain staking operations. The ETP carries a 67 basis point annual management fee, reflecting competitive pricing within Bitwise's growing staking ETP suite. This is Bitwise's seventh institutional-grade staking ETP, demonstrating sustained product expansion into yield-generating crypto assets.
Hyperliquid operates as a blockchain-based trading platform combining the speed and user experience of centralized exchanges with on-chain transparency and verifiability. The protocol features a fully on-chain order book and execution system, enabling derivatives trading—including perpetual futures—with all transactions recorded directly on the blockchain. The platform has achieved notable traction over the past year, with trading volumes and user activity increasing substantially. Recent developments include the launch of S&P 500 perpetual futures on Hyperliquid, enabling continuous 24/7 trading and driving approximately $72 billion in monthly trading volume.
Bradley Duke, Managing Director and Head of Europe at Bitwise, positioned the launch as timely, noting that Hyperliquid's fully on-chain model differentiates it from both traditional centralized exchanges and competing cryptocurrency platforms. For traditional institutional investors, the ETP provides regulated, familiar exchange-traded access to an emerging segment of blockchain infrastructure combining high-performance trading with transparency—addressing demand for alternatives to traditional centralized venues while maintaining institutional custody and compliance standards.
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