Bitwise files updated S-1 for Hyperliquid ETF as HYPE fund race heats up
HYPE has surged around 200% over the last 12 months. Other asset managers including Grayscale, 21Shares, and VanEck are also eyeing HYPE-linked ETFs.
What to know:
- Bitwise filed for a proposed exchange-traded fund holding Hyperliquid’s HYPE token directly, trading under ticker BHYP on NYSE Arca.
- The fund includes a staking component with about 85% of staking rewards retained after fees, a 0.67% annual management fee and custody handled by Anchorage Digital.
- HYPE has surged around 200% over the last 12 months. Other asset managers including Grayscale, 21Shares and VanEck are also eyeing HYPE-linked ETFs.
The proposed product includes a staking component. Bitwise said the fund would stake a portion of its holdings to earn additional tokens, with about 85% of staking rewards retained after fees.
The filing also details a 0.67% annual management fee and custody arrangements with Anchorage Digital, a federally chartered crypto bank.
The price of Hyperliquid’s HYPE token has surged over the past year. The token is up around 200% over the last 12 months, as it became the go-to decentralized trading platform for perpetual contracts, including those tied to traditional financial products.
Other asset managers have also moved to list HYPE-linked exchange-traded funds. These include Grayscale, which filed last month to list under the ticker GHYP on Nasdaq, as well as 21Shares and VanEck.
