Bitwise Asset Management filed another amendment to its pending U.S. spot exchange-traded fund (ETF) for Hyperliquid’s HYPE token this week, reconfirming its BHYP ticker and 0.67% management fee as Bloomberg senior ETF analyst Eric Balchunas signaled a launch could be imminent.
Key Takeaways:
Bitwise filed a second amendment for its BHYP ETF on April 10, 2026, signaling a U.S. launch may be near. Four issuers, including Grayscale and Vaneck are racing to offer spot HYPE exposure to U.S. investors. HYPE is up 200% in the past year, fueled by Hyperliquid’s fee buyback mechanism and record perps volume. Four Asset Managers, Including Grayscale and Vaneck Race to Launch U.S. HYPE Spot ETFAnnualized protocol revenue runs into the hundreds of millions of dollars, with margins that analysts estimate above 97%. The buyback mechanism gives HYPE a deflationary structure that functions differently from most governance tokens.
