Bitwise Accelerates Hyperliquid ETF Debut with Revised Filing post-160683 post-160683 post-160683

Bitwise Asset Management filed a critical amendment to its Hyperliquid ETF registration statement on April 10, 2026, signaling that the product is entering its final approval phase. The amendment, submitted to the Securities and Exchange Commission, establishes the ticker symbol BHYP and sets a 0.67% annual management fee for the fund, which will trade on NYSE Arca. According to Bloomberg Intelligence ETF analyst Eric Balchunas, the inclusion of finalized economics, a defined ticker, and updated effectiveness language typically appear late in the SEC approval process and suggest an imminent launch.

The filing comes on the heels of the product's European debut. On April 9, 2026, Bitwise launched the Bitwise Hyperliquid Staking ETP on Deutsche Börse Xetra, providing institutional investors with structured exposure to HYPE, the native token of the Hyperliquid blockchain network. The ETP is designed to track the Kaiko HYPE Reference Rate index while generating additional returns through staking rewards, allowing institutional investors to capture yield without managing private keys or on-chain staking infrastructure directly. This represents Bitwise's seventh institutional-grade staking ETP offering, reflecting growing institutional appetite for yield-generating crypto products.

Hyperliquid itself has emerged as a significant infrastructure play in decentralized finance, operating as a Layer 1 blockchain platform focused on derivatives trading, particularly perpetual futures. The platform combines the speed and user experience of traditional centralized exchanges with blockchain transparency—utilizing a fully on-chain order book and execution system that makes all trades verifiable and immutable. This architecture appeals to institutional investors seeking alternatives to centralized trading venues with greater auditability and reduced counterparty risk.

Bitwise's accelerated timeline reflects intensifying competition in the spot crypto ETF space. The firm was the first to file for SEC approval of a spot HYPE ETF in September 2025, establishing first-mover advantage. However, competitor 21Shares filed its own Hyperliquid ETF proposal in October 2025, though that filing has not yet disclosed a ticker or fee structure. By finalizing its economics and filing an 8-A form amendment, Bitwise has positioned itself ahead in the regulatory queue. Anchorage Digital Bank serves as the custodian for the BHYP fund's assets, providing institutional-grade asset custody infrastructure.

The convergence of the European ETP launch and the finalized U.S. SEC filing underscores the institutional maturation of both Hyperliquid as a trading platform and crypto derivatives as an asset class. For hedge funds and family offices, the availability of regulated, custodied exposure to HYPE through traditional ETF structures represents a bridge between traditional investment operations and blockchain-native infrastructure participation.