Bitwise Files Second Hyperliquid ETF Amendment With 0.67% Fee and BHYP Ticker

Key Point

Bitwise filed a second amendment for its proposed spot Hyperliquid ETF, adding the BHYP ticker and a 0.67% management fee. Eric Balchunas said those details usually indicate that a fund may launch soon. If approved, the ETF would trade on NYSE Arca and offer investors exposure to Hyperliquid's spot price. Bitwise's earlier amendment also said the fund would seek additional returns from HYPE staking, which Grayscale and 21Shares have not explicitly indicated for their proposed funds.

Market Sentiment

Cautiously Bullish, Event-driven.

Reason: Bitwise added a ticker and fee to its second amendment, which usually signals that the proposed ETF is moving closer to market readiness.

Similar Past Cases

This type of ETF pre-launch amendment usually supports sentiment more than immediate market access. The difference here is that approval is still pending, so optimism can fade if the review timeline stretches or competitors move at the same time.

Ripple Effect

A spot ETF could widen access to HYPE by moving exposure into a standard brokerage product. If competing issuers keep advancing similar filings, attention could shift toward fees, staking features, and exchange venue choice rather than only token performance.

Opportunities & Risks

Opportunities: The main point to watch is whether the SEC allows the filing to advance toward approval, because that would clarify whether HYPE exposure can move into an ETF format.

Risks: The filing does not guarantee approval, and a longer review or competing launches could limit the market impact of Bitwise's product.