Bitwise Moves Closer to Launching First Hyperliquid Spot ETF in the U.S.
- Bitwise has filed a modified Form S-1 with the SEC, indicating an imminent launch of its Hyperliquid ETF.
- The ETF will have a management fee of 0.67% and trade under the ticker symbol $BHYP.
- Anchorage Digital Bank will act as custodian for the ETF, ensuring token protection and overseeing staking operations.
- The ETF aims to provide regulated exposure to HYPE tokens, which are expected to benefit from staking rewards over time.
- HYPE token is currently trading at approximately $28.80, down about 23% over the past month despite increased on-chain activity.
The filing’s timing suggests that approval for the Hyperliquid ETF may be forthcoming, as such amendments typically precede product launches in the cryptocurrency market.
If approved, BHYP could begin trading within weeks, potentially impacting HYPE token prices positively as investors seek regulated exposure.(Source)
