Overview
- Bitwise, which filed a second amended SEC registration Friday, added the ticker BHYP, a 0.67% fee, Anchorage Digital for custody, approved counterparties FalconX, Flowdesk, Nonco and Wintermute, and a plan to list on NYSE Arca.
- The trust would hold Hyperliquid’s HYPE token directly and pursue staking as a secondary objective to earn extra HYPE, with the filing describing how the fund could stake some or all holdings.
- Rival managers are in the hunt, with 21Shares already filed and Grayscale entering in late March with GHYP, while Bitwise listed a physically backed Hyperliquid staking ETP on Deutsche Börse Xetra on April 9.
- HYPE has rallied about 65% this year and roughly 176% to 200% over 12 months, as CoinGlass tallied $492.7 billion in Q1 derivatives volume and on-chain data showed Arthur Hayes bought 26,022 HYPE on April 11.
- If approved, a U.S. spot ETF could let investors gain HYPE exposure through a brokerage account without managing wallets, though final regulatory sign-off is still required and not assured.