Overview
- Bitwise said its Bitwise Hyperliquid ETF, ticker BHYP, will list on the New York Stock Exchange with a 0.34% sponsor fee waived for the first month on the first $500 million in assets.
- The fund will stake its HYPE holdings through Bitwise Onchain Solutions, giving investors in‑house staking exposure rather than relying on a third‑party provider.
- HYPE jumped about 13.8% to roughly $44.49 with trading volume up sharply after the ETF announcement, as traders also reacted to Coinbase naming Hyperliquid its USDC treasury deployer.
- Bitwise stated BHYP is not registered under the Investment Company Act of 1940, which means it lacks protections that apply to traditional ETFs and mutual funds.
- The rollout follows 21Shares’ THYP debut earlier in the week with about $1.8 million in first‑day volume and comes as Grayscale pursues approval for a competing HYPE product.