Hyperliquid (HYPE) ETF Inches Closer as Bitwise Files Key Amendment and Hayes Adds to Position

Key Highlights

• Bitwise submitted its second amendment for a Hyperliquid ETF, revealing the ticker symbol $BHYP and a management fee of 0.67%.
• Eric Balchunas from Bloomberg ETF analysis indicated these additions usually precede an imminent product rollout.
• HYPE has surged approximately 65% year-to-date in 2026, currently priced near $41.96, with a 12-month gain of about 182%.
• BitMEX co-founder Arthur Hayes acquired 26,022 HYPE tokens valued at over $1 million, marking his first buy in nearly three months.
• The Hyperliquid platform entered the top 10 derivatives exchanges by volume in early April, recording $492.7 billion in Q1 trading activity.

Bitwise Asset Management has submitted an updated amendment to the US Securities and Exchange Commission for its proposed Hyperliquid spot exchange-traded fund. The latest filing discloses the ticker symbol $BHYP alongside a management fee structure of 0.67%, equivalent to 67 basis points.

Hyperliquid (HYPE) Price

Eric Balchunas, a senior ETF analyst at Bloomberg, highlighted the amendment on X, explaining that including such specifics generally indicates an imminent product debut. He pointed out that HYPE has appreciated 200% annually and suggested Bitwise appears eager to capitalize on current market conditions.

Bitwise became the initial asset manager to file for a Hyperliquid ETF with the SEC back in September 2025. The firm now competes with Grayscale, which submitted its application in late March 2026, and 21Shares, which followed one month after Bitwise’s original filing.

Upon regulatory approval, the ETF would list on the NYSE Arca platform, offering investors direct exposure to HYPE’s spot market price. Bitwise has also suggested in a previous amendment that the fund could potentially enhance returns through HYPE staking mechanisms—a feature that neither Grayscale nor 21Shares has proposed.

Hayes Adds Over $1 Million to HYPE Holdings

Blockchain monitoring service Lookonchain revealed that Arthur Hayes, BitMEX’s co-founder and former chief executive, purchased 26,022 HYPE tokens worth just above $1 million on April 11. This transaction marked his first acquisition of the token in almost three months.

Hayes’ total holdings now stand at 247,344 HYPE, valued at roughly $10.44 million, reflecting an unrealized profit of approximately $2.5 million.

The purchase occurred as HYPE regained ground above the $40 threshold. The token had declined below $27 toward the end of February following geopolitical tensions in Iran, subsequently rallied to $44 in mid-March, retreated to $34, and rebounded to approximately $42 when Hayes executed his buy.

In a post on X, Bloomberg’s Balchunas stated: “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 Exchange Metrics

Data from CoinGecko indicates that HYPE is currently trading near $41.96, representing an approximate 65% increase since the beginning of 2026 and a gain of roughly 182% over the trailing 12-month period.

CoinGlass, a blockchain analytics service, reported in early April that Hyperliquid had secured a position among the top 10 cryptocurrency derivatives exchanges by trading volume. Throughout the first quarter of 2026, Hyperliquid facilitated $492.7 billion in trading volume, positioning it in ninth place, trailing Coinbase by approximately $90 billion.

As of April 11, 2026, HYPE was valued at approximately $41.96 based on CoinGecko pricing data.

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