Crypto asset manager Bitwise has filed an amended registration statement with the US Securities and Exchange Commission for a proposed exchange-traded fund (ETF) linked to Hyperliquid’s HYPE
The updated S-1 for the fund, which would hold HYPE directly and list on the NYSE Arca, said it would trade under the ticker BHYP. The fund aims to track the token’s price and offer investors exposure to it without leveraging crypto exchanges or wallets.
The proposed product contains a rate component. Bitwise said the fund would stake a portion of its holdings to earn additional tokens, with around 85% of the stake reward retained after fees.
The filing also details a 0.67% annual management fee and custody arrangements with Anchorage Digital, a federally chartered crypto bank.
The price of Hyperliquid’s HYPE token has risen over the past year. The token has risen around 200% over the past 12 months as it became the decentralized trading platform for perpetual contracts, including those linked to traditional financial products.
Other asset managers have also moved to list HYPE-linked exchange-traded funds. These include Grayscale, which last month filed for listing under the ticker GHYP on the Nasdaq, as well as 21Shares and VanEck.
