Bitwise files Hyperliquid ETF with BHYP ticker, 0.67% fee — launch likely
Bitwise amended its S‑1 to register a Hyperliquid ETF under ticker BHYP and disclosed an annual management fee of 0.67% (67 bps). The filing includes a Form 8‑A registration, a procedural step Bloomberg analyst Eric Balchunas and others view as commonly preceding an imminent ETF launch. Bitwise has been leading efforts to secure SEC approval for a fund tracking Hyperliquid’s HYPE token; rival manager 21Shares is pursuing a similar product. The update comes amid heightened crypto ETF activity, with managers rolling out funds tied to assets such as SOL, XRP, DOGE, LTC and HBAR as investor demand for regulated, diversified crypto exposure grows. No exact launch date was provided. Traders should watch for a trading kickoff and early flows into BHYP, as ETF listings and initial inflows can materially affect short‑term price discovery and liquidity in the underlying HYPE token.
Bullish
An ETF filing that includes Form 8‑A registration and a disclosed ticker typically signals an imminent product launch. For the underlying HYPE token, an approved and listed ETF (BHYP) would likely increase institutional and retail access, channeling new capital and improving liquidity — factors that are bullish for token demand and price. In the short term, announcement momentum and listing anticipation can trigger speculative buying and tighter markets; early fund inflows after listing may create further upward pressure. Over the medium to long term, sustained ETF adoption could support higher baseline demand for HYPE, though actual price impact will depend on fund size, tracking mechanics, and broader crypto market conditions. Risks that could temper the bullish outlook include weak initial flows, redemption pressure, or adverse regulatory actions affecting crypto ETFs broadly.