Bitwise Doubles Down: Amends Hyperliquid ETF Filing with SEC in Bold Crypto Push
Bitwise just sharpened its knife. The asset manager has formally amended its filing for a Hyperliquid ETF with the SEC, signaling it's not backing down from the crypto frontier.
The Filing Facelift
This isn't just paperwork—it's a strategic pivot. Amending an ETF proposal means addressing regulator feedback, tightening the structure, or adding new safeguards. It's the process of turning a bold idea into an investable reality, navigating the SEC's notorious gauntlet of concerns.
Why Hyperliquid Matters
Forget the niche coins. A Hyperliquid ETF targets the market's most-traded, highest-volume digital assets. Think of it as the blue-chip index of crypto—Bitwise isn't chasing memes; it's building a bridge for institutional capital that still gets cold feet on unregulated exchanges.
The Regulatory Tango
Every amended line is a negotiated concession or a fortified argument. The SEC has been the gatekeeper, demanding airtight custody, clear valuation, and robust market surveillance. Bitwise's move shows it's playing the long game, adapting its pitch in the high-stakes dance for approval.
The Bigger Picture
This is a direct shot across the bow of traditional finance. An approved ETF would let investors gain crypto exposure through their regular brokerage account—no private keys, no wallet passwords. It's mainstream access wrapped in a familiar package, potentially unlocking a tidal wave of new capital.
Bitwise is betting that even Wall Street, with its love for spreadsheets and deep-seated fear of disruptive tech, can't ignore the numbers forever. The amendment is a step closer to making that bet a reality—proving that in finance, sometimes you have to speak the regulator's language to change the game.
Bitwise HYPE ETF amendment filing points to near-term debut
As reported by Cryptopolitan, Bitwise filed an S-1 proposal for the Hyperliquid ETF with the SEC in late September. Looking at the amended prospectus, there is a proposed ticker symbol “BHYP,” and according to Reuters, the Bitwise HYPE ETF could be listed on NYSE Arca.
Under the post-September review procedure, the SEC has authorized crypto ETF issuers to go effective within 30 to 60 days of the initial S-1 filing. The filing of Amendment No. 1, including Section 8(a) language, a finalized fee, and a ticker symbol, is usually interpreted as the final procedural step before effectiveness.
All factors considered WOULD place the most realistic window for trading within the second half of December, or latest early January as a fallback if the regulator waits for internal clearance or market conditions.
The filing disclosed the fund’s unitary management fee, which will be set at 0.67% per annum of the trust’s Hyperliquid holdings. Per the prospectus, the ETF is structured as a trust that issues common shares of beneficial interest on a continuous basis.
The trust will reference the CF Hype Dollar US Settlement Price to calculate its net asset value, a pricing benchmark produced by CF Benchmarks Ltd. and derived from aggregated executed trade data in Hyperliquid trading “constituent platforms.”
The prospectus says that shares will be created and redeemed in groups of 10,000. This will be based on the amount of Hyperliquid that each share is worth, less any unpaid expenses and debts, and multiplied by the number of shares in a basket.
Bitwise, VanEck seek regulated HYPE exposure as UK mulls crypto law changes
Bitwise’s amendment is part of a small group of pending HYPE-related fund filings submitted to the SEC. Two weeks before Bitwise submitted its original application, VanEck filed a staking-focused Hyperliquid ETF with the US regulator.
VanEck has also been pursuing two Hyperliquid ETFs in the European Union, where regulatory frameworks are less stringent than those in the West. The SEC has not yet approved a Hyperliquid ETF, and it could be a big ask for the regulator to greenlight a staking ETF for a decentralized exchange token.
In October, Grayscale became the first US-based issuer to begin staking the ethereum and Solana held by its spot crypto exchange-traded funds. The crypto asset manager introduced staking in its Ethereum and Solana offerings, including the Grayscale Ethereum Trust ETF, the Grayscale Ethereum Mini Trust ETF, and the Grayscale Solana Trust, listed and traded on NYSE Arca.
The push for new crypto investment products is unfolding in Britain, where the finance ministry announced on Monday that the country will begin regulating cryptoassets from October 2027. The government plans to introduce legislation in parliament that would extend financial regulation to companies involved in cryptoassets.
Finance minister Rachel Reeves told news publications that the rules would provide “clear rules of the road,” strengthen consumer protections and keep “dodgy actors” out of the market. Natalie Lewis, a partner at law firm Travers Smith, said that she hoped the final legislation would include more substantive revisions, citing several technical legal issues in the original draft.
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