Bitwise Unveils the New Spot Hyperliquid ETF BHYP with In-House Staking

Bitwise Launches the Bitwise Hyperliquid ETF (BHYP)

On May 15, 2026, Bitwise Asset Management, one of the leading cryptocurrency asset managers globally, announced the debut of the Bitwise Hyperliquid ETF (BHYP) on the NYSE. With over $11 billion in client assets as of April 2026, Bitwise has launched BHYP as a way to enable investors to gain exposure to on-chain derivatives through the popular Hyperliquid platform, while also providing unique staking rewards.

What is BHYP?

The Bitwise Hyperliquid ETF is notable for being one of the first spot Hyperliquid Exchange Traded Products (ETPs) available in the U.S., and it distinguishes itself by offering in-house staking services. This innovative approach allows investors to stake their Hyperliquid (HYPE) holdings through Bitwise’s in-house team at Bitwise Onchain Solutions, optimizing potential returns from their investments.

However, potential investors are cautioned about the high level of risk involved with BHYP. It is essential to note that this ETF is not registered under the Investment Company Act of 1940, which means it does not come with the same protections typical to ETFs and mutual funds. Additionally, investors must understand that investing in BHYP is not equivalent to investing directly in the Hyperliquid token itself.

Performance of Hyperliquid

Hyperliquid has rapidly grown into a powerful trading platform tailored for on-chain trading and decentralized finance (DeFi). Last year, the platform processed an astounding $2.9 trillion in trading volume, reflecting a staggering increase of over 400% from the previous year. It commands roughly 60% of the total on-chain derivative open interest globally, boasting the capability of handling approximately 200,000 orders each second. This makes it a vital hub for traders seeking quick, secure, and transparent access to financial markets while managing custody risks effectively.

The rise of Hyperliquid has also been notable within the crypto investment landscape. Matt Hougan, Chief Investment Officer at Bitwise, remarked on the platform's potency, especially during periods of high market volatility. For instance, when global geopolitical tensions arose, many turned to Hyperliquid for price discovery, with major financial entities acknowledging its pricing accuracy in the oil market. This incident highlighted the robust infrastructure Hyperliquid provides for the evolving digital economy.

Features and Benefits of BHYP

The newly launched ETF not only allows access to perpetual futures but also embraces features such as spot trading, borrowing, lending, and a fully integrated Ethereum-compatible smart contract environment via the HyperEVM. The recent performance of the HYPE token, which ranks as the tenth-largest cryptocurrency in the market with a market cap exceeding $11 billion, signals a burgeoning interest among investors. HYPE serves multiple functions within the ecosystem, including being critical for staking and governance participation.

Hougan emphasizes the intrinsic design of Hyperliquid's token, stating that its success directly correlates with enhanced trading activity. For those looking to invest in the rapidly growing cryptocurrency space, BHYP offers a channel for exposure, coupled with the added advantage of an in-house staking strategy aimed at maximizing investor returns.

Beginning today, the Bitwise Hyperliquid ETF (BHYP) is officially listed for trading on the NYSE, with an introductory Sponsor Fee set at 0.34%. Notably, for the first month on its inaugural $500 million in assets, this fee will be waived.

The launch of BHYP by Bitwise marks a significant point in the evolution of cryptocurrency investment products, offering a clever mixture of innovation in the ETF landscape combined with well-structured exposure to an impressive blockchain ecosystem. With more advancements in blockchain technology, products like BHYP could pave the way for more accessible and profitable investment opportunities in the long run.