Bitwise has filed an updated S-1 registration statement with the SEC for its proposed Hyperliquid ETF, trading under the ticker BHYP on NYSE Arca. This fund aims to hold Hyperliquid’s HYPE token directly and includes a staking component, allowing investors to earn additional tokens while retaining 85% of staking rewards after fees. The annual management fee is set at 0.67%, with custody managed by Anchorage Digital.
The significance of this development lies in HYPE’s impressive 200% surge over the past year, positioning it as a leading decentralized trading platform for perpetual contracts. As Bitwise enters the race, other asset managers like Grayscale, 21Shares, and VanEck are also pursuing HYPE-linked ETFs, highlighting growing institutional interest in cryptocurrency products.
Market professionals should note that the increasing competition for HYPE-linked ETFs could drive further volatility in HYPE’s price and influence broader market trends as institutional adoption of crypto assets continues to expand.
Source: coindesk.com