Crypto asset manager Bitwise has filed an amended registration statement for its proposed Hyperliquid exchange-traded fund, setting a ticker symbol and management fee, steps that typically signal an ETF launch is nearing.
The amendment, filed Monday with the U.S. Securities and Exchange Commission, shows the Bitwise Hyperliquid ETF is expected to trade on NYSE Arca under the ticker BHYP and will charge a 0.67% annual management fee, according to the updated prospectus.
Bloomberg Intelligence ETF analyst Eric Balchunas said the filing added several markers that usually appear late in the approval process, pointing to the inclusion of finalized economics, a ticker, and updated effectiveness language. “Usually that means launch imminent,” Balchunas wrote on X.
Bitwise first filed a Form S-1 for the Hyperliquid ETF in September, becoming the first asset manager to seek U.S. approval for a fund offering spot exposure to the network’s native HYPE token.
The move also comes as competition around Hyperliquid-linked products begins to take shape. In October, 21Shares also filed a registration statement for a Hyperliquid ETF, though that proposal has yet to disclose a ticker or fee structure.
The Hyperliquid ETF is designed to track the value of HYPE held by the trust, net of expenses, and would also seek to generate additional returns through staking, according to the filing. Anchorage Digital Bank is listed as the custodian for the fund’s assets.
Hyperliquid is a Layer 1 blockchain focused on decentralized derivatives trading, particularly perpetual futures, and has seen rapid growth this year as trading activity migrates onchain.
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