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HYPE Token News
Bitwise Asset Management filed a second amendment to its proposed spot Hyperliquid ETF with the U.S. Securities and Exchange Commission on April 10. The updated filing adds new trading counterparties and fills in remaining operational details. Bloomberg Intelligence senior ETF analyst Eric Balchunas saidon X that the fund could launch soon.
The amendedfiling names FalconX, Flowdesk, Nonco, and Wintermute as approved counterparties for HYPE trading. Flowdesk and Wintermute are new additions to that list. A1, previously listed as a counterparty and identified as an affiliate of custodian Anchorage Digital, has been removed. Anchorage Digital Bank will continue to hold the trust’sHYPEassets in custody.
CF Benchmarks will provide the fund’s daily pricing reference rate, set at 4 p.m. ET each trading day. The fund will trade on NYSE Arca under the ticker BHYP. Bitwise set the annual management fee at 0.67%, a figure first disclosed in December.
Bitwise filed its original S-1 for the product in September, making it the first issuer to seek U.S. approval for a spot HYPE ETF. 21Shares submitted a competing application a month later. Grayscale filed its own proposal in late March. Among the three, Bitwise has progressed furthest in the SEC review process.
The trust plans to stake its HYPE holdings substantially, excluding a 30% liquidity reserve kept available for redemptions. Staking rewards will be subject to a 15% fee, split between Bitwise and designated staking agents. Bitwise affiliate Attestant is named in the filing as a potential staking operator. This staking component sets the Bitwise product apart, as neither Grayscale nor 21Shares has explicitly committed to staking in their filings.
The U.S. filing came one day after Bitwise Europe listed a fully backed Hyperliquid Staking ETP on Deutsche Borse Xetra on April 9, also carrying the BHYP ticker. That European product tracks the Kaiko HYPE Reference Rate. HYPE has risen roughly 200% over the past 12 months.
Hyperliquid’s on-chain perpetuals platform generated $492.7 billion in trading volume during the first quarter of 2026. That figure placed it just below ninth-ranked Coinbase by approximately $90 billion. The platform’s growing volume has drawn continued attention from ETF issuers watching the asset’s market development.
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Source: coinmarketcap.com