Bitwise Nears Hyperliquid ETF Launch With Second SEC Filing

The trust plans to stake its HYPE holdings substantially, excluding a 30% liquidity reserve kept available for redemptions.

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

on X that the fund could launch soon.

The

filing 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's

assets 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