Spot ETF for Hyperliquid gets closer with new ticker and fee

A company called Bitwise just took another step toward launching a new kind of exchange-traded fund. This fund would let people invest in Hyperliquid, a blockchain that handles crypto futures trading. Bitwise updated its plan with the U. S. government to show the fund will use the ticker symbol $BHYP and charge a 0. 67% yearly fee. Experts say when a company files these kinds of details, it usually means the product is about to launch. The company also mentioned it might earn extra returns by staking HYPE tokens, which other firms haven’t clearly said they’ll do. The timing of this move isn’t random. The price of HYPE tokens has jumped nearly 200% in the last year, hitting around $42 recently. Even though the whole crypto market had a rough start in 2026, HYPE kept climbing. Blockchain data shows Hyperliquid is now one of the top ten platforms for crypto derivatives, trading over $490 billion in just three months. That puts it close to big names like Binance and Coinbase in terms of volume.Bitwise isn’t the only one chasing this opportunity. Two other companies, Grayscale and 21Shares, have also filed their own plans to launch similar ETFs tied to Hyperliquid. Bitwise was first to submit its plan last fall, while the others joined a few months later. If approved, this ETF would trade on the NYSE Arca stock exchange, giving investors a direct way to bet on Hyperliquid’s price without buying crypto directly. The rush to launch these funds shows how competitive the crypto ETF space has become. Companies are trying to get ahead while the interest in Hyperliquid is still growing. But with so many players in the game, only the first mover might get the biggest slice of the pie. Investors will have to decide if the 0. 67% fee is worth the potential returns, especially when the crypto market is known for its ups and downs.