Bitwise Asset Management, hyperliquid made an important update that accelerated the process for the based spot exchange traded fund. In the second amendment file submitted to the US Securities and Exchange Commission, some critical details of the product became clear. This development was interpreted as indicating that the fund’s launch to the market was approaching.
ETF application reaches critical stage
The updated document stated that the transaction code of the fund was determined as BHYP and the management fee would be 0.67 percent. Disclosure of such technical details usually signals the final stage of the ETF process. Reaching this point in the process strengthened the expectation that the product could be offered to investors in a short time.
Bitwise became a pioneer in this field by applying for Hyperliquid ETF for the first time in September. Later, 21Shares and Grayscale also applied for similar products. Thus, the race to launch the first spot ETF based on Hyperliquid has gained momentum.
If approved, the ETF will be traded on the NYSE Arca exchange and offer investors access to Hyperliquid’s spot price without direct exposure. This structure is seen as a bridge that can enable traditional investors to access crypto assets more easily.
In the first change made in December, Bitwise stated that the fund could also use the HYPE staking method to obtain additional returns. This detail stands out as an important element that differentiates it from competing applications.
Hyperliquid continues its growth
Hyperliquid has recently achieved remarkable momentum in terms of both price performance and transaction volume. Since the beginning of 2026, the HYPE price has increased by approximately 65 percent, reaching $41.96. The performance in the last 12 months was around 182 percent.
This rise occurred during a time when the overall crypto market was on a weak note at the beginning of the year. This indicates that Hyperliquid has a performance that differs from the general market.
On the other hand, a significant growth was also observed on the transaction volume side. In the first quarter, the platform reached a total transaction volume of $492.7 billion. This level moved it into the top 10 among crypto derivatives platforms.
The platform has started to be in the same league with big players such as Binance, OKX and Bybit in terms of trading volume. This development shows that Hyperliquid is increasingly being adopted by institutional and individual investors.
According to current data, Hyperliquid is positioned just below Coinbase in terms of volume, and the difference is approximately $90 billion. This table reveals that the platform has the potential to climb higher in the short term.
