Bitwise Unveils the Bitwise Hyperliquid ETF (BHYP) with Staking Rewards
In a significant move for crypto investors, Bitwise Asset Management has officially launched the Bitwise Hyperliquid ETF (ticker: BHYP) on May 15, 2026. This ETF marks a milestone as one of the first spot Hyperliquid exchange-traded products (ETPs) available in the United States, and it's also the first of its kind to incorporate in-house staking. With a current client asset total of $11 billion, Bitwise's strategic entry into this market signals a growing recognition of the potential of decentralized finance (DeFi) and onchain trading.
The Hyperliquid platform stands out in the world of crypto trading with its robust infrastructure, enabling perpetual futures trading and a total trading volume of around $2.9 trillion in 2025—a staggering 400% increase from the previous year. The platform is responsible for approximately 60% of the global onchain derivative open interest, processing around 200,000 orders every second. This efficiency positions Hyperliquid as a reliable option for traders seeking speed and security in their financial transactions.
Matt Hougan, Bitwise's Chief Investment Officer, emphasized the significance of Hyperliquid's performance during recent geopolitical tensions, where traditional markets were inaccessible. Hyperliquid provided crucial price discovery, showcasing how the platform's infrastructure could serve as a stable alternative amidst market volatility. The launch of the BHYP ETF is designed to give investors an accessible way to participate in the exciting opportunities presented by Hyperliquid, complemented by in-house staking options aimed at maximizing potential returns.
The Hyperliquid ecosystem also supports a variety of trading functionalities, including spot trading, borrowing, and lending, alongside a fully Ethereum-compatible smart contract environment known as HyperEVM. This positions Hyperliquid as one of the most comprehensive decentralized trading solutions in the crypto space. With its native token, HYPE, now the tenth-largest crypto asset globally with a market cap surpassing $11 billion, the platform has generated significant interest from investors seeking exposure to crypto's promising trajectory.
However, potential investors should approach BHYP with caution. Bitwise clearly notes that investing in this ETF carries significant risks, including high market volatility and the potential for substantial or total loss of capital. Unlike traditional investment companies regulated under the Investment Company Act of 1940, BHYP is not recognized under this framework; thus, it does not offer the same investor protections. Furthermore, while HYPE presents exciting prospects, the nature of the crypto market may result in fluctuating valuations, and stakeholders should be prepared for periods of high risk.
Bitwise's Hyperliquid ETF also features an attractive fee structure, with a Sponsor Fee set at 0.34%, waived completely for the first month for the fund’s first $500 million in assets, providing an incentive for early investors. With over 70 investment products including ETFs and managed accounts under its belt, Bitwise continues to position itself as a pioneer in the evolving landscape of digital asset management.
In conclusion, the Bitwise Hyperliquid ETF represents a noteworthy development for crypto investors, combining fast and efficient onchain trading with innovative staking options. As Bitwise further establishes its presence in the crypto market, the BHYP ETF may open new avenues for investors looking to leverage the dynamic world of decentralized finance.
The Hyperliquid platform stands out in the world of crypto trading with its robust infrastructure, enabling perpetual futures trading and a total trading volume of around $2.9 trillion in 2025—a staggering 400% increase from the previous year. The platform is responsible for approximately 60% of the global onchain derivative open interest, processing around 200,000 orders every second. This efficiency positions Hyperliquid as a reliable option for traders seeking speed and security in their financial transactions.
Matt Hougan, Bitwise's Chief Investment Officer, emphasized the significance of Hyperliquid's performance during recent geopolitical tensions, where traditional markets were inaccessible. Hyperliquid provided crucial price discovery, showcasing how the platform's infrastructure could serve as a stable alternative amidst market volatility. The launch of the BHYP ETF is designed to give investors an accessible way to participate in the exciting opportunities presented by Hyperliquid, complemented by in-house staking options aimed at maximizing potential returns.
The Hyperliquid ecosystem also supports a variety of trading functionalities, including spot trading, borrowing, and lending, alongside a fully Ethereum-compatible smart contract environment known as HyperEVM. This positions Hyperliquid as one of the most comprehensive decentralized trading solutions in the crypto space. With its native token, HYPE, now the tenth-largest crypto asset globally with a market cap surpassing $11 billion, the platform has generated significant interest from investors seeking exposure to crypto's promising trajectory.
However, potential investors should approach BHYP with caution. Bitwise clearly notes that investing in this ETF carries significant risks, including high market volatility and the potential for substantial or total loss of capital. Unlike traditional investment companies regulated under the Investment Company Act of 1940, BHYP is not recognized under this framework; thus, it does not offer the same investor protections. Furthermore, while HYPE presents exciting prospects, the nature of the crypto market may result in fluctuating valuations, and stakeholders should be prepared for periods of high risk.
Bitwise's Hyperliquid ETF also features an attractive fee structure, with a Sponsor Fee set at 0.34%, waived completely for the first month for the fund’s first $500 million in assets, providing an incentive for early investors. With over 70 investment products including ETFs and managed accounts under its belt, Bitwise continues to position itself as a pioneer in the evolving landscape of digital asset management.
In conclusion, the Bitwise Hyperliquid ETF represents a noteworthy development for crypto investors, combining fast and efficient onchain trading with innovative staking options. As Bitwise further establishes its presence in the crypto market, the BHYP ETF may open new avenues for investors looking to leverage the dynamic world of decentralized finance.
Topics Financial Services & Investing）
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