Bitwise will launch its Hyperliquid ETF on Friday, offering investors direct exposure to the spot $HYPE as institutional demand for hyperliquid-related products accelerates.
Introducing the Bitwise Hyperliquid $BHYP ETF, providing 100% direct spot exposure $HYPE. And the first to use internal staking, rather than a third-party staking provider.
Start trading tomorrow.
Why Hyperliquide?
We think Hyperliquid is one of the most important onchains… pic.twitter.com/Of55iF1AMW— Bitwise (@Bitwise) May 14, 2026
The Bitwise Hyperliquid ETF will trade under the symbol BHYP and provide 100% direct exposure to $HYPEthe native token of Hyperliquide. The fund is also the first $HYPE ETF will use Bitwise’s internal staking infrastructure rather than relying on a third-party staking provider, according to the company.
The ETF prospectus shows that the fund is expected to be listed on the NYSE Arca exchange under the symbol BHYP, with the primary objective of tracking the value of $HYPE held by the trust and a secondary objective of generating $HYPE by staking. The fund has a sponsor fee of 0.34%, which Bitwise will waive for one month on the first $500 million in assets.
Bitwise said the fund is designed to offer investors a low-cost way to participate in Hyperliquid’s growth as one of the largest on-chain trading platforms. According to data from DeFiLlama, Hyperliquid orders approximately 60% of the global perpetual open interest on the DEX chain and processes 200,000 orders per second.
The launch comes days after 21Shares launched its own Hyperliquid ETF earlier this week, giving the market a first sense of investor appetite for $HYPE exposure through traditional brokerage accounts.
According to data from SoSoValue, the 21Shares Hyperliquid ETF has processed over $4.47 million in trading volume since its launch, based on figures from the previous trading day. The fund also saw cumulative net inflows of $2.52 million over the same period.
The first day of trading showed early demand for the product, with the 21 Shares fund seeing volume of $1.8 million and net inflows of around $1.2 million.
The launch of Bitwise also comes as Coinbase announced earlier today that it would become the official treasure deployer of $USDC on Hyperliquide.
Coinbase said it was expanding support for $USDC on Hyperliquide by becoming the official deployer of the treasures of $USDC As an aligned listing asset, deepening the stablecoin’s role in the platform’s on-chain capital markets infrastructure.
The move strengthens the relationship between Hyperliquid and one of the largest US crypto exchanges, while giving $USDC a more important role in the platform’s commercial ecosystem.
$HYPE rose more than 15% the day after the ETF and Coinbase news, reaching nearly $45 before paring some of the move.
The token was last trading near $43.80 at press time, holding most of the session’s gains as investors reacted to the combination of new access to ETFs, exposure to staking-based funds and greater $USDC integration.