Bitwise Files Second Spot Hyperliquid ETF Amendment (BHYP), Adds 0.67% Fee
Bitwise Asset Management has filed a second amendment with the SEC for a spot Hyperliquid ETF, keeping the “first spot Hyperliquid ETF” race active. The update adds the ETF ticker BHYP and sets the management fee at 0.67%.
SEC analyst Eric Balchunas said amendments with specific details often signal a closer launch timeline. If approved, Bitwise’s spot Hyperliquid ETF would trade on NYSE Arca and aim to track the spot price of Hyperliquid.
A notable differentiation is the potential for extra yield via HYPE staking, which may strengthen the product’s revenue angle versus some other submissions (e.g., Grayscale and 21Shares). Hyperliquid’s token HYPE has been strong, and derivatives activity has also expanded, adding market attention to the underlying.
For traders, incremental progress on the spot Hyperliquid ETF filing can be a near-term bullish catalyst for HYPE sentiment. However, the real market impact still depends on SEC approval timing and any later changes to staking/fee terms, which can increase volatility around headlines.
Bullish
The second SEC amendment for a spot Hyperliquid ETF is incremental but meaningful: adding the BHYP ticker and setting a 0.67% fee suggests the issuer is moving from “early” filings toward launch readiness. Historically, such amendment milestones can tighten market positioning and lift expectations of approval, which often supports the underlying token (HYPE) in the short term.
The staking angle adds a potential fundamental “differentiator” (extra yield) that could improve investor appeal and relative competitiveness versus other ETF proposals. This can extend the bullish narrative beyond pure “approval odds.”
Risk remains that SEC timing may slip or that later regulatory comments force changes to staking mechanics or fee structure. Any delay or unfavorable adjustment could trigger sharp pullbacks, so while the directional bias is bullish, near-term volatility risk is non-trivial.