Bitwise Advances Spot Hyperliquid ETF with Updated SEC Filing

Bitwise Asset Management is moving closer to launching a spot exchange-traded fund (ETF) for Hyperliquid, having filed a second amendment with the U.S. Securities and Exchange Commission (SEC). The updated filing includes the ticker $BHYP and establishes a management fee of 0.67%, or 67 basis points. Industry analysts suggest that the inclusion of these specific operational details typically indicates that a product launch is approaching. Bitwise is currently competing with Grayscale and 21Shares, both of whom have also filed for Hyperliquid-linked products. Notably, Bitwise's proposal includes a strategy to generate additional returns through HYPE staking, a feature not explicitly mentioned in the competing filings. The push for an ETF coincides with strong price action for the underlying asset. HYPE has risen approximately 65% since the beginning of 2026 to reach a price of $41.96, with a 12-month gain of roughly 182%. Furthermore, the Hyperliquid platform has seen a significant surge in adoption. Recent data shows the protocol has entered the top 10 crypto derivatives platforms by volume, generating $492.7 billion in trading volume during the first quarter. This growth positions it as a major competitor to established exchanges like Binance and OKX.