Bitwise Files Second Amendment for Hyperliquid ETF, HYPE Price Climbs

Highlights:

Bitwise filed a second amended Hyperliquid ETF prospectus, adding key launch details for investors.
The proposed fund would track HYPE, include staking, and list under the ticker BHYP.
HYPE price rose after the filing, as market sentiment improved and bullish calls returned.

Bitwise asset management has taken another step toward launching a spot exchange-traded fund tied to Hyperliquid. The firm, on Friday, has submitted a second amended filing with the U.S. Securities and Exchange Commission (SEC), which includes several operating details that investors typically want to see as the ETF filing process nears completion. If approved, the ETF would provide investors with regulated access to HYPE, the native token of the Hyperliquid decentralized trading platform.

What the Hyperliquid ETF’s New Filing Includes

The revised prospectus noted that the fund plans to list on NYSE Arca under the ticker BHYP and will charge a 0.67% annual management fee. This fee represents the cost investors would pay each year for managing and operating the fund. The product will also include staking, allowing the trust to seek direct price exposure to Hyperliquid and earn additional token rewards from staking.

The new filing states that the Bitwise Hyperliquid ETF would primarily hold Hyperliquid. Each share’s value would be calculated using the CF Hype Dollar US Settlement Price, a benchmark created by CF Benchmarks Ltd. that aggregates trading data from multiple Hyperliquid venues.

Shares would be created and redeemed in blocks of 10,000 shares. This is a common ETF practice that helps keep the market price of the fund close to the value of the assets it holds.

The amendment shows that Bitwise is moving its Hyperliquid ETF filing into a more complete form, but it does not mean the product has already won regulatory approval. The document is still a preliminary prospectus, and the registration statement must become effective before shares can be sold.

Eric Balchunas Says Amended Filing Shows Progress for Bitwise ETF

Bloomberg ETF analyst Eric Balchunas pointed to the amendment on X and said that filings adding the ticker and fee often suggest a launch may be getting closer. His post did not confirm approval or a trading date, but it framed the filing as a meaningful step forward in the process.

Hyperliquid sounds like the name of a rave I attended in 1994 but barely remember

— Eric Balchunas (@EricBalchunas) April 10, 2026

He also mentioned that HYPE has increased by roughly 200% over the past year. This suggests Bitwise may be positioning the product while interest in the market stays strong. Along with his comments on the filing, Balchunas made a lighthearted remark on X. He joked, “Hyperliquid sounds like the name of a rave I attended in 1994 but barely remember.”

Bitwise submitted its first proposal in September and became the first to file. 21Shares followed with its application in October, and Grayscale entered the race with a filing in late March. All three are waiting for SEC review. This process can take several months and includes multiple rounds of feedback and changes.

HYPE Price Rises as Market Sentiment Strengthens

Following the news, HYPE increased its gains. At the time of writing, the token was trading at $42.46, reflecting a 4.36% rise in the past 24 hours.

Sentiment improved further after Arthur Hayes noted that HYPE recently reached $41.80. This figure matched a technical target identified earlier by Ali Martinez and showed ongoing upward strength. Hayes also provided a more optimistic long-term prediction. He stated that HYPE could reach $150 by August, which contributed to the positive mood surrounding the token.