Bitwise Moves Closer to Launching U.S. HYPE Spot ETF
- Bitwise filed a second amendment for its BHYP ETF on April 10, signaling a potential U.S. launch.
- HYPE has surged by 200% in the past year, driven by Hyperliquid’s fee buyback mechanism and high trading volume.
- Four asset managers, including Grayscale and Vaneck, are competing to offer spot HYPE exposure in the U.S.
- The European version of Bitwise’s product launched on April 9 with an expense ratio of 0.85% and targets staking rewards.
- The SEC is still reviewing the U.S. spot ETF applications from all four issuers.
Bitwise is advancing toward launching its HYPE spot ETF in the U.S., having filed a second amendment that suggests readiness for market entry pending SEC approval. The move comes amidst significant growth in HYPE’s value over the past year, largely due to Hyperliquid’s innovative financial mechanisms.
With multiple asset managers racing to introduce similar products, Bitwise’s strategic filings indicate a strong push to capitalize on favorable market conditions for decentralized finance offerings like DeFi. (Source)
