Bitwise is signaling the imminent launch of a US exchange-traded fund (ETF) tied to the decentralized trading network Hyperliquid.
In an amended registration statement filed with the SEC, the digital asset index fund manager disclosed critical operational details for the proposed product.
BHYP Ticker For Bitwise’s Hyperliquid ETF
Bitwise’s filing says the trust’s primary objective is to provide exposure to the value of Hyperliquid held by the vehicle. The fund’s secondary objective is to earn staking rewards.
“In connection with its investment objective of seeking to derive additional Hyperliquid through staking, the Trust will stake some or all of the Hyperliquid held in the Trust Hyperliquid Accounts,” the filing stated.
Meanwhile, the new filing introduces the ticker symbol BHYP and establishes a sponsor fee of 67 basis points.
Industry experts noted that these inclusions represent one of the final procedural hurdles before a fund goes live on national exchanges.
If approved by securities regulators, the Hyperliquid fund will integrate into a rapidly expanding suite of Bitwise investment vehicles.
Over the past year, the asset manager has aggressively expanded its product lineup beyond legacy assets such as Bitcoin and Ethereum. The firm has been providing regulated exposure for alternative layer-one networks and protocols, including Solana, Chainlink, and XRP.
Meanwhile, the push for a US spot product follows closely on the heels of Bitwise’s international expansion.
On April 9, the firm listed the Bitwise Hyperliquid Staking physically backed product on the Deutsche Börse Xetra. That instrument tracks the Kaiko HYPE Reference Rate LDNLF index.
The fund automatically captures on-chain staking yields, sparing institutional allocators the operational friction of managing private keys and self-custody infrastructure.
HYPE Outperforms Crypto Bear Market
Since the beginning of the year, Hyperliquid’s HYPE has emerged as one of the best-performing digital assets.
The altcoin has surged 66% since the beginning of 2026. This demonstrates distinct relative strength against a broader digital asset market that has struggled to find its footing early in the year.
A significant catalyst for Hyperliquid’s recent outperformance is its underlying utility during periods of acute macroeconomic stress. As military hostilities flared in the Middle East involving the US, Israel, and Iran, traditional financial markets were shuttered for the weekend.
During that liquidity gap, institutional and retail participants aggressively rotated into Hyperliquid’s blockchain-based infrastructure.
The decentralized platform became a critical venue for traders seeking to hedge geopolitical risks. They used synthetic perpetual futures contracts to gain exposure to global benchmarks such as Brent crude and gold before the recent Pakistan-brokered ceasefire took effect.
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