Bitwise has updated its S-1 filing for the Hyperliquid HYPE ETF, aiming to hold the HYPE token directly. The ETF is set to list on NYSE Arca and will trade under the ticker BHYP. Over the past year, the price of HYPE has surged approximately 200%. This move places Bitwise amid growing competition, with other firms like Grayscale looking to list similar funds.
The Hyperliquid HYPE ETF, as outlined in Bitwise’s updated S-1 filing, aims to directly track the price of the HYPE token. An essential feature of this ETF is the inclusion of a staking component, where approximately 85% of the generated staking rewards are retained after deducting fees. Investors in the ETF will be charged a 0.67% annual management fee, which is competitive within the industry. Moreover, the fund’s assets will be securely managed through custody arrangements with Anchorage Digital, a federally chartered crypto bank. Anchorage Digital plays a critical role by ensuring the safe storage and regulatory compliance of the fund’s crypto assets.
The competitive landscape for HYPE-linked ETFs is intensifying as several key market players have shown interest in launching their own versions. Grayscale has recently filed for the approval of a new ETF to trade under the ticker GHYP on Nasdaq. This highlights Grayscale’s intention to expand its portfolio into HYPE-related offerings. Additionally, other companies, such as 21Shares and VanEck, have expressed their interest in entering the HYPE-linked ETF market. These firms are aiming to capitalize on the growing demand for crypto-linked investment products.
Bitwise has submitted an updated S-1 related to its proposed HYPE-linked ETF, reflecting recent regulatory filings in the sector and the firm’s ongoing efforts to register a HYPE-focused product. The move occurs amid broader market interest from multiple asset managers and financial firms considering HYPE-related investment vehicles and filing related proposals. These concurrent developments illustrate growing institutional engagement with HYPE-linked ETF structures across the industry.
