Overview
- Bitwise, which updated its SEC S-1 on Saturday, named the BHYP ticker and set a 0.67% annual fee for a spot ETF that would hold Hyperliquid’s HYPE.
- The trust would hold HYPE, list on NYSE Arca if approved, stake a portion of tokens and retain about 85% of rewards, with Anchorage Digital as custodian.
- Grayscale, 21Shares and VanEck have filed competing HYPE funds, including Grayscale’s GHYP on Nasdaq, creating a race to launch the first product.
- Bloomberg analyst Eric Balchunas said filings that add a ticker and fee often come just before a debut, though SEC approval is still required.
- HYPE is up about 65% this year and roughly 182% over 12 months. Hyperliquid recorded $492.7 billion in Q1 derivatives volume, according to CoinGlass.