Bitwise Hyperliquid ETF Launches on NYSE as HYPE Interest Grows

Bitwise launched the BHYP Hyperliquid ETF on NYSE as institutional interest in HYPE and on-chain perpetuals rises.

The Bitwise Hyperliquid ETF begins trading on the New York Stock Exchange on May 15 under the ticker BHYP, entering the market days after 21Shares launched the first-ever Hyperliquid

on May 12.

BHYP will deliver staking rewards to investors through Bitwise Onchain Solutions, the firm's in-house staking division. Bitwise was the first asset manager to file a Form S-1 for a Hyperliquid ETF, submitting it in September, ahead of similar filings by 21Shares and Grayscale. The fund carries a 0.34% sponsor fee, set at 0% for the first month on the initial $500 million in assets. Bitwise noted the fund is not registered under the Investment Company Act of 1940 and does not carry the same protections as conventional ETFs or mutual funds.

Hyperliquid is the leading

perpetuals exchange and hosts trading in tokenized commodities and spot crypto. Its native HYPE token is used to pay fees on the platform and ranks among the top 15 tokens by trading volume. HYPE holds a market capitalization of $10.5 billion, making it the ninth-largest cryptocurrency by market cap excluding stablecoins, and was up over 13% at the time of publication.