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- Bitwise has updated its Hyperliquid ETF index to include the ticker BHYP with an interest rate of 0.67%.
- The updated listing adds to the signs that the company is planning to launch soon as competition for the first Hyperliquid ETF heats up.
Bitwise seems to be getting a little closer by introducing a Hyperliquid ETFand the latest updates are what the market likes to see.
The asset manager has issued a second revised filing on the proposed stock, adding the ticker BHYP and setting the regulatory fee at 0.67%, or 67 basis points. On its own, there are no surprising details. Together, however, they often indicate that the reservation is entering its final phase.
The details of the ticket and the fee point to the product that is closer to the market
Bloomberg ETF chief analyst Eric Balchunas he said on X that the addition of a ticker and a fee usually means that the establishment is coming soon. That’s not a guarantee, of course. ETF listings may experience delays, changes or changes in timing. But in practice, these are often not the first things suppliers struggle to complete unless the product is nearing market readiness.
Timeliness also makes sense. Hyperliquid has been one of the most watched names in crypto over the past year, and Balchunas noted that HYPE has increased by nearly 200% during this period. For the issuer, this creates an obvious incentive to move while investor interest is still high.
Hyperliquid fund competition has begun to intensify
Bitwise is not alone here. Other asset managers, including Grayscale and 21Shares, are also pushing to launch products built around Hyperliquid, a crypto. Perpetual futures protocol and blockchain This has created a lot of interest for traders and ETF providers.
This competition is important because being the first is still important in crypto ETFs. Original products tend to attract the most attention, sell well, and are often relevant for a long time.
For Bitwise, the update shows that the company wants to be part of that first category rather than arriving after the category has already been defined. The next question is whether the SEC’s process moves quickly enough to ensure that profits remain when the BHYP is ready.
