Bitwise has filed a second amendment with the U.S. Securities and Exchange Commission for its spot Hyperliquid (HYPE) ETF, signaling a potential final regulatory hurdle before launch. The move intensifies speculation that the long-awaited fund could begin trading soon, marking a significant milestone for institutional crypto adoption.
On Friday, April 10th, Bitwise submitted its second amendment to its spot Hyperliquid with the SEC, introducing new names to the list of approved trading counterparties ahead of an imminent launch in the US. This latest filing included FalconX, Flowdesk, Nonco, and Wintermute as approved trading counterparties for the asset manager.
Earlier in its first amendment filing in December 2025, Bitwise revealed the fund’s BHYP ticker, an annual management fee of 0.67%, and a proposal to generate additional profit through HYPE staking. Also, the asset management fund had listed three trading counterparties at the time, including A1 (now dropped off), Nonco, and Solios (disclosed as a d/b/a of FalconX).
In a post on the social media platform, Bloomberg senior ETF analyst Eric Balchunas highlighted the second amendment filing, saying that this latest update suggests that the fund’s launch might be imminent. Despite competition from two other asset managers, Bitwise looks set to win the race for the first spot ETF linked to Hyperliquid’s native token, HYPE.
21Shares followed with an application of its own to launch a Hyperliquid ETF in October 2025, while Grayscale submitted its own filing in late March 2026. Upon approval (which looks like a matter of when rather than if), Bitwise’s HYPE ETF will debut on the NYSE Arca stock exchange and offer investors exposure to the spot price of Hyperliquid.
Despite the raging market uncertainty this year, Hyperliquid’s native token HYPE has been one of the best performers so far. In fact, it can be said that the decentralized perpetual futures trading protocol has been one of the major winners from the Middle East tensions, as traders looked to gain market exposure even outside of regular trading hours.
Data from CoinGecko shows that the price of HYPE is up by more than 65% year-to-date and almost 200% in the past full year. As bullish momentum returned to the cryptocurrency market his week, investors have seen the altcoin’s price reclaim the $40 mark, jumping by nearly 20% in the past week.
As of this writing, the price of HYPE sits just beneath $43, reflecting a nearly 3% jump in the past 24 hours.
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