Bitwise has taken a major step toward launching a Hyperliquid ETF by confirming the ticker BHYP and a 0.67% fee, signaling the product is likely in its final stages before approval. If launched, the ETF could bring significant institutional capital into Hyperliquid and further boost demand for its native token HYPE.
Bitwise Advances Hyperliquid ETF Toward Launch
Bitwise Asset Management has filed a second amendment for its proposed Hyperliquid ETF, revealing key details such as the ticker BHYP and a 67-basis-point fee.
This level of specificity typically indicates that the ETF is moving closer to launch. According to Eric Balchunas, filings that include final details like ticker and fees often suggest that approval momentum is building and issuers are preparing for market rollout.
The development comes as Hyperliquid’s native token HYPE continues to gain strong traction across both retail and institutional markets.
Why Is Hyperliquid ETF Important?
The proposed ETF could significantly expand Hyperliquid’s reach by opening access to traditional financial markets. This would allow institutions to gain regulated exposure to a rapidly growing decentralized perpetuals trading platform.
Over the past year, Hyperliquid has shown strong real adoption:
- Market share of exchange trading volume increased from 3.5% to nearly 7%
- Growth driven by actual usage, not just speculation
This suggests that demand for Hyperliquid is backed by real activity, making the ETF more attractive to institutional investors.
Balchunas also added a lighter remark on X, saying:
“Hyperliquid sounds like the name of a rave I attended in 1994 but barely remember.”
While humorous, the comment reflects how crypto-native platforms are increasingly entering mainstream financial conversations.
Whale Activity Signals Strong Confidence
On-chain data further supports the bullish narrative.
According to Lookonchain, a newly created wallet (0x96eb) deposited 5 million USDC into Hyperliquid and used 2.39 million USDC to purchase 59,239 HYPE tokens.
This type of behavior is often associated with strategic positioning ahead of major catalysts.
Key takeaway:
- Fresh wallet creation suggests deliberate accumulation
- Large capital deployment indicates strong conviction
- Likely positioning ahead of ETF approval or liquidity expansion
Analysts Turn Increasingly Bullish
Market sentiment around HYPE is strengthening as price action confirms bullish expectations.
HYPE recently reached $41.80, aligning with a technical target previously identified by Ali Martinez, signaling strong upward momentum.
At the same time, Arthur Hayes has made a bold long-term projection, suggesting HYPE could reach $150 by August 2026.
His bullish outlook is based on two key factors:
- Hyperliquid’s growing dominance in decentralized perpetual trading
- Its aggressive tokenomics model, where 97% of protocol revenue is used for buybacks, reduces the circulating supply
This creates consistent upward pressure on price over time..
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