Bitwise Hyperliquid ETF Filing Updated — Launch Could Be Near, Analyst Says – Crypto News Bitcoin News
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Key Takeaways: Bitwise filed a second amendment for its BHYP ETF on April 10, 2026, signaling a U.S. launch may be near. Four issuers, including Grayscale and Vaneck are racing to offer spot HYPE exposure to U.S. investors. HYPE is up 200% in the past year, fueled by Hyperliquid’s fee buyback mechanism and record perps volume. Four Asset Managers, Including Grayscale and Vaneck Race to Launch U.S. HYPE Spot ETF Balchunas posted on X that the update typically precedes a near-term listing, noting that HYPE is up 200% over the past year and that Bitwise appears to be moving while market conditions favor the product. The firm originally filed its S-1 registration statement in September 2025 and submitted Amendment No. 1 on Dec. 15, 2025, which added the BHYP ticker, the fee, and an 8-A registration statement. Both actions are standard late-stage markers in the SEC’s ETF review process. The U.S. spot ETF has not yet received approval. It remains under SEC review. However, the repeated amendments indicate Bitwise has finalized its offering structure and is ready to list. The 0.67% fee sits above the 0.20-0.25% range common among bitcoin spot ETFs. Bitwise frames the higher cost as reflecting direct exposure to a high-margin decentralized finance (DeFi) perpetuals platform, where fees from trading activity drive an on-chain buyback-and-burn program tied directly to HYPE’s value. One day before the latest U.S. filing update, on April 9, 2026, Bitwise Europe launched the Bitwise Hyperliquid Staking ETP on Deutsche Boerse Xetra under the same BHYP ticker. The European product carries a 0.85% total expense ratio, holds HYPE in cold storage, tracks the Kaiko HYPE Reference Rate, and targets approximately 1% net staking rewards annually. Bitwise is one of four asset managers currently pursuing U.S. spot ETF exposure to HYPE. 21shares filed an S-1…
Filed under: News - @ April 11, 2026 3:45 pm