First Hyperliquid ETF Nears Launch as Bitwise Files Amended S-1 With SEC

The first Hyperliquid ETF in the U.S. could launch soon, as crypto ETF issuer Bitwise has filed an amended S-1 registration statement with the SEC. This move comes as the perpetual decentralized exchange (DEX) continues to gain ground, with its HIP-3 markets attracting significant interest.

Bitwise Hyperliquid ETF Could Launch Soon

Bloomberg analyst Eric Balchunas noted that the HYPE ETF launch could be imminent, given that Bitwise has filed an amended S-1 with the SEC that includes key details such as the fund’s ticker and fees.

According to the SEC filing, the Bitwise Hyperliquid ETF will trade on the NYSE Arca under the ticker ‘BHYP.’ The crypto ETF issuer will charge a management fee of 0.67%. Meanwhile, Anchorage Digital Bank will serve as the fund’s custodian, securing the net assets for the HYPE ETF.

Balchunas alluded to the HYPE token, noting that the crypto price is up 200% in the past year. As such, he believes that Bitwise is trying to ‘strike while the iron is hot’ by launching its Hyperliquid ETF soon.

It is worth noting that the Hyperliquid ecosystem is also gaining significant attention at the moment, with its HIP-3 markets, which enable market participants to trade in assets beyond crypto, including commodities such as gold, silver, and oil. According to Hyperscreener data, daily open interest in these markets has consistently exceeded $1 billion since the start of March, around the time the U.S.-Iran war began.

Other HYPE ETFs On The Table

Crypto ETF issuers Grayscale and 21Shares have also filed to launch Hyperliquid ETFs in the U.S. 21Shares had filed for this fund in October last year, shortly after Bitwise filed to offer the first HYPE ETF. Meanwhile, Grayscale filed for its HYPE fund last month, which it plans to launch under the ticker ‘GHYP.’

Ahead of the Bitwise Hyperliquid ETF launch, the HYPE price has again climbed above the psychological $40 level, posting one of the largest gains among the major cryptos this week. HYPE is up over 18% in the last week, according to TradingView data.

This also comes as crypto whales, including BitMEX co-founder Arthur Hayes, accumulate the HYPE token. As CoinGape recently reported, Arthur Hayes recommended buying HYPE, calling it the only thing he was buying right now.

On-chain data shows that Hayes received 26,022 HYPE, worth $1.096 million, from market maker Flowdesk today. Further data from Hypurrscan shows that he now holds 247,334 HYPE, worth $10.44 million, up over $2.5 million.