Bitwise Updates HYPE Spot ETF Filing with SEC

Bitwise Asset Management has advanced its bid to launch the first spot exchange-traded fund tracking Hyperliquid's HYPE token, filing an updated application with the U.S. Securities and Exchange Commission that includes a proposed ticker symbol of BHYP and a management fee of 0.67 percent. The amendment, submitted recently, signals progress toward a potential market debut, according to Bloomberg ETF analyst Eric Balchunas, who noted that such details often indicate a product is nearing approval and launch.

Bitwise first submitted its proposal for the Hyperliquid ETF in September 2025, positioning itself as the pioneer in a growing race among asset managers. A month later, 21Shares filed a similar application, followed by Grayscale in March 2026. All three issuers aim to provide investors with regulated exposure to Hyperliquid, a blockchain protocol specializing in decentralized perpetual futures trading. If approved, Bitwise's ETF would list on the NYSE Arca exchange and track the spot price of HYPE, the platform's native token. Unlike the filings from 21Shares and Grayscale, Bitwise's proposal includes plans for staking HYPE to generate additional returns for shareholders, a...