Bitwise is nearing the launch of a U.S. exchange-traded fund tied to Hyperliquid (HYPE), after filing an amended registration statement with the SEC that assigned a ticker and fee structure.
BHYP Ticker and Staking Details
The updated filing disclosed the ticker symbol BHYP and set a sponsor fee at 67 basis points. The trust's stated goal is to give investors exposure to the value of Hyperliquid held by the fund, with staking rewards as a secondary objective.
"The Trust will stake some or all of the Hyperliquid held in the Trust Hyperliquid Accounts," the filing stated.
Bloomberg Intelligence senior ETF analyst Eric Balchunas noted that adding a ticker and fee typically signals an imminent launch. He pointed out that HYPE has gained roughly 200% over the past year, suggesting Bitwise wants to capitalize on the momentum.
The move follows Bitwise's Apr. 9 listing of a physically backed Hyperliquid staking ETP on Deutsche Börse Xetra in Europe. That product tracks the Kaiko HYPE Reference Rate LDNLF index.
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HYPE Performance in 2026
HYPE has risen 66% since the start of 2026, outperforming a broader digital asset market that struggled early in the year. Much of that strength came during a weekend in which traditional markets were closed as military tensions between the U.S., Israel and Iran escalated.
Traders turned to Hyperliquid's on-chain infrastructure to hedge geopolitical risk. They used perpetual futures contracts to gain exposure to benchmarks like Brent crude and gold before a Pakistan-brokered ceasefire took hold.
Altcoin ETF Filing Wave
The Hyperliquid fund fits into a far wider push for altcoin ETFs.
In late Dec. 2025, Bitwise filed with the SEC for 11 single-token strategy ETFs covering assets including Aave, Uniswap, Zcash and NEAR. At least 31 spot altcoin ETF applications were submitted during the first half of 2025 alone, according to Cointelegraph Research. Filings from VanEck, Franklin Templeton, Grayscale, Canary Capital and others targeted tokens such as Solana (SOL), XRP (XRP), Litecoin (LTC), Dogecoin (DOGE) and Avalanche (AVAX). Under SEC Chairman Paul Atkins, approval timelines compressed from 240 days to roughly 75, and Bloomberg analysts raised approval odds for Solana, Litecoin and XRP ETFs to 100%.
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