Bitwise updates HYPE filing

Bitwise filed a second amendment for its proposed Hyperliquid exchange-traded fund on April 10, adding the ticker BHYP and a 0.67% sponsor fee. (sec.gov) The amended Form S-1 says the trust is expected to list on New York Stock Exchange Arca and would hold Hyperliquid directly, with the fund seeking to track the token’s value after expenses. (sec.gov) A spot exchange-traded fund is a wrapper that holds the asset itself rather than futures contracts, giving stock-market investors a way to buy exposure through a brokerage account. Bitwise’s filing says the product would offer exposure to Hyperliquid without investors handling wallets or private keys. (sec.gov) Hyperliquid is a blockchain-based trading venue focused on perpetual futures, a type of derivatives contract that does not expire. Bitwise Europe said on April 9 that it had already launched a Hyperliquid staking exchange-traded product on Deutsche Börse Xetra under the same BHYP ticker in Germany. (finance.yahoo.com) The United States filing lands as several managers push to package Hyperliquid exposure for regulated markets. CoinDesk reported on April 11 that Grayscale, 21Shares, and VanEck are also pursuing Hyperliquid-linked funds. (coindesk.com, sec.gov) The filing does not mean the fund can start trading yet. Bitwise still needs the registration statement to become effective, and crypto exchange-traded products have typically also required a separate exchange rule filing before launch. (sec.gov, bitwiseinvestments.com) Bitwise is also building a separate lineup of crypto strategy funds that use derivatives rather than spot holdings. A Bitwise filing dated April 9 delayed the effective date for its Hyperliquid Strategy Exchange-Traded Fund and several other strategy products until May 8, 2026. (sec.gov) For now, the clearest change is procedural: Bitwise’s Hyperliquid spot filing has moved from blanks to launch specifics, with a name, ticker, exchange, and fee now on paper. (sec.gov)