Key Highlights
- Bitwise submitted a second amendment for its Hyperliquid ETF, introducing the $BHYP ticker symbol and establishing a 0.67% annual management fee structure.
- Eric Balchunas, Bloomberg’s ETF expert, indicated that such filing updates usually precede an imminent product rollout.
- HYPE has climbed approximately 65% year-to-date in 2026 and currently trades near $41.96, marking a 182% increase over the trailing twelve months.
- BitMEX co-founder Arthur Hayes acquired 26,022 HYPE tokens valued above $1 million, marking his first accumulation in nearly three months.
- The Hyperliquid platform secured a position among the top 10 cryptocurrency derivatives exchanges by trading volume in early April, processing $492.7 billion during Q1.
Bitwise Asset Management has submitted an updated amendment to its application for a spot Hyperliquid exchange-traded fund with the United States Securities and Exchange Commission. The revised documentation introduces the trading symbol $BHYP and establishes an annual management fee structure of 0.67%, equivalent to 67 basis points.
Eric Balchunas, who serves as a senior ETF analyst at Bloomberg, highlighted the development on X, explaining that such specific amendments generally indicate a product is approaching its market debut. He observed that HYPE has appreciated 200% annually and suggested Bitwise appears eager to capitalize on current momentum.
Bitwise holds the distinction of being the inaugural firm to file a Hyperliquid ETF application with the SEC, submitting its initial paperwork in September 2025. The company now competes with Grayscale, which entered its filing in late March 2026, and 21Shares, which followed one month behind Bitwise.
Upon regulatory approval, the exchange-traded fund would list on the NYSE Arca platform and provide investors with direct access to HYPE’s spot market pricing. Bitwise has also outlined in a previous amendment that the fund might pursue additional yield generation through HYPE staking mechanisms, a feature not referenced in competing applications from Grayscale or 21Shares.
Hayes Accumulates $1 Million Worth of HYPE Tokens
Blockchain tracking service Lookonchain revealed that Arthur Hayes, who co-founded and previously led BitMEX, purchased 26,022 HYPE tokens for slightly more than $1 million on April 11. This transaction represents his first HYPE acquisition in approximately three months.
Hayes currently maintains a position of 247,344 HYPE tokens, representing roughly $10.44 million in current market value, with unrealized profits estimated at approximately $2.5 million.
The purchase occurred as HYPE regained ground above the $40 threshold. The digital asset had previously declined below $27 in late February following escalating tensions in Iran, then rallied to $44 during mid-March, retreated to $34, and subsequently recovered to approximately $42 at the time of Hayes’s transaction.
Balchunas from Bloomberg commented via X: “Bitwise w another update to Hyperliquid ETF includes ticker $BHYP and fee 67bps. Typically that means launch soon. HYPE is up 200% in past yr so they prob trying to strike while iron hot.”
Token Performance and Trading Platform Expansion
Data from CoinGecko indicates that HYPE is currently valued at approximately $41.96, reflecting a 65% gain since the beginning of 2026 and a substantial 182% appreciation across the previous twelve-month period.
CoinGlass, a blockchain analytics service, documented in early April that Hyperliquid had achieved entry into the top ten cryptocurrency derivatives trading platforms measured by transaction volume. Throughout the first quarter of 2026, Hyperliquid facilitated $492.7 billion in trading activity, positioning the platform in ninth place, trailing Coinbase by approximately $90 billion.
As of April 11, 2026, HYPE maintained a trading price of roughly $41.96, based on data compiled by CoinGecko.
