Key Highlights
- Bitwise launched the Hyperliquid ETF (BHYP) on NYSE, offering spot exposure to HYPE and in-house staking.
- The ETF is high-risk and may result in total loss due to crypto volatility and limited investor protections.
- Bitwise highlighted Hyperliquid’s growing role in price discovery during major market events.
Bitwise Asset Management said it has officially started trading its new crypto investment product, the Bitwise Hyperliquid ETF (ticker: BHYP), on the New York Stock Exchange today, May 15.
According to the press release, the firm, which manages about $11 billion in assets for clients, said this fund was built to give investors an easy way to invest in Hyperliquid without needing to buy or store the token themselves.
Easy access to Hyperliquid without holding
Bitwise said this ETF is one of the first spot Hyperliquid exchange-traded products available in the U.S. It includes in-house staking, meaning the company will lock up some of the tokens through Bitwise Onchain Solutions to help support the network and earn rewards that can benefit the fund.
It is also the first of its kind to include in-house staking, which means the company itself will lock up some of the tokens to help support the network and earn rewards that can benefit the fund.
Bitwise warn of potential risk
However, Bitwise said the ETF is not safe for all investors. It carries a high level of risk and can experience strong price swings. The firm noted that there are chances that investors could lose some or all of their invested capital.
“An investment in BHYP is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment,” it said.
Bitwise also explained that this ETF is not under the same rules as regular investment funds like normal ETFs or mutual funds. Because of this, it does not have the same level of protection. In addition, it also reminded investors that past performance does not guarantee future results.
The ETF carries a sponsor fee of 0.34%, but Bitwise said the fee will be reduced to 0% for the first month on the initial $500 million in assets.
Why Bitwise Is betting on Hyperliquid
In the release, Bitwise Chief Investment Officer Matt Hougan spoke about why the company launched this ETF.
He said that during a period of global tension in early 2026, traditional markets were closed, but traders still used Hyperliquid to figure out prices. He explained that even major news sources, including Bloomberg, pointed to Hyperliquid’s oil contract as an important price reference during that time.
“Hyperliquid has emerged as one of the most compelling investment opportunities in crypto today.” He said.
Growing demand for HYPE product
Meanwhile, this launch places BHYP among a growing list of crypto-linked ETFs entering regulated markets, especially as more traditional finance products begin offering exposure to blockchain-based assets through structured investment vehicles.
Aside from that, 21Shares, another asset management firm, also announced earlier this week that it has launched its own Hyperliquid product called THYP on Nasdaq. This particular ETF is expected to start trading this month, along with another ETF, 21Shares 2x Long HYPE ETF, which it launched on April 30.
Also Read: Hyperliquid Surges 21% as HYPE ETF Debuts on Nasdaq and Coinbase Deepens Ties
