Key Highlights
- Bitwise submitted an updated amendment for its Hyperliquid ETF, incorporating the $BHYP ticker symbol and establishing a 0.67% annual management fee.
- ETF expert Eric Balchunas from Bloomberg indicated that such filings usually precede an imminent product rollout.
- The HYPE token has climbed 65% year-to-date in 2026, currently valued at approximately $41.96, with a 182% gain across the trailing twelve months.
- BitMEX co-founder Arthur Hayes acquired 26,022 HYPE tokens valued above $1 million, marking his initial purchase in nearly ninety days.
- Hyperliquid entered the elite group of top 10 cryptocurrency derivatives exchanges by trading volume in early April, recording $492.7 billion in Q1 activity.
Bitwise Asset Management has submitted its second amendment to the Hyperliquid spot exchange-traded fund application with the United States Securities and Exchange Commission. This latest regulatory filing incorporates the trading symbol $BHYP and establishes an annual management fee structure of 0.67%, equivalent to 67 basis points.
Eric Balchunas, a senior analyst specializing in ETFs at Bloomberg, highlighted this development on X, explaining that the inclusion of such specifics generally indicates imminent product deployment. He observed that HYPE has appreciated 200% annually and suggested Bitwise appears eager to capitalize on current market momentum.
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 pic.twitter.com/xt5gc9BpSI
— Eric Balchunas (@EricBalchunas) April 10, 2026
Bitwise pioneered the Hyperliquid ETF application process by submitting its initial filing to the SEC in September 2025. The firm now competes with Grayscale, which entered its application in late March 2026, along with 21Shares, which followed Bitwise by one month.
Upon receiving regulatory approval, the investment vehicle would become available on the NYSE Arca marketplace, providing investors with direct access to HYPE’s spot market pricing. Bitwise has also outlined in a previous amendment that the fund could potentially enhance returns through HYPE token staking mechanisms—a feature that neither Grayscale nor 21Shares has incorporated into their proposals.
BitMEX Co-Founder Adds Seven Figures to HYPE Position
Blockchain monitoring service Lookonchain revealed that Arthur Hayes, who co-founded and previously led BitMEX, acquired 26,022 HYPE tokens valued at slightly over $1 million on April 11. This transaction represented his first HYPE accumulation in approximately three months.
Arthur Hayes(@CryptoHayes) bought 26,022 $HYPE($1.1M) again after nearly 3 months.
He now holds 247,334 $HYPE($10.44M) and is up over $2.5M.https://t.co/BVqcbjKBOc pic.twitter.com/Qu5FgXTbAb
— Lookonchain (@lookonchain) April 11, 2026
Hayes currently maintains a position of 247,344 HYPE tokens, representing approximately $10.44 million in current market value, with unrealized profits hovering around $2.5 million.
The purchase occurred as HYPE rebounded beyond the $40 threshold. The digital asset had declined below $27 in late February following the outbreak of conflict in Iran, subsequently rallying to $44 during mid-March, retracing to $34, and recovering to approximately $42 when Hayes executed his transaction.
Balchunas from Bloomberg commented on X: “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 Valuation and Platform Expansion
Data from CoinGecko indicates HYPE is currently changing hands near $41.96, representing approximately 65% appreciation since the beginning of 2026 and roughly 182% growth measured across the past year.
CoinGlass, a blockchain analytics provider, documented in early April that Hyperliquid had successfully penetrated the top ten cryptocurrency derivatives trading platforms measured by transaction volume. Throughout the first quarter of 2026, Hyperliquid facilitated $492.7 billion in trading activity, securing ninth position and trailing Coinbase by approximately $90 billion.
As of April 11, 2026, HYPE was valued at roughly $41.96 based on CoinGecko market data.
