Bitwise Submits Hyperliquid ETF Amendment - Launch Imminent?

Bitwise just filed an amendment for its Hyperliquid ETF. That's not paperwork—it's a starting gun.

The Regulatory Sprint

Amendments like this signal the final lap. The SEC's desk isn't for decoration—it's where applications get stamped or shredded. Bitwise pushing forward means they're confident the finish line is in sight. It’s the kind of move that makes traders check their portfolios twice.

Why Hyperliquid Matters

This isn't just another fund. It targets a specific, high-efficiency corner of the crypto market. Think institutional-grade access without the usual friction. It bypasses clunky old gates, offering a path straight to the assets big money actually wants.

The Bigger Picture

Every approved ETF acts like a battering ram against legacy finance's walls. It forces the old guard to acknowledge the new asset class—or get left behind watching the price charts. Sure, some bankers might still call it a 'fad' over a three-martini lunch, but their compliance departments are already running the numbers.

The clock is ticking. When a firm like Bitwise moves, the market listens. Get ready.

Hyperliquid ETF Details Emerge as SEC Review Advances

In late September, Bitwise filed its S-1 registration of the Hyperliquid ETF. The SEC, under the current review framework, gives crypto ETF issuers a 30-60 day timeframe to become effective after first filing. The first amendment is usually viewed by the participants of the market as a final procedure. According to this time frame, the trading may commence in the second half of December or push to early January.

Source: X

The revised prospectus refers to the proposed ticker symbol as “BHYP.” According to Reuters, the ETF might be listed on NYSE Arca in case it is approved. A unitary management fee of 0.67% per year is disclosed as well in the filing. This charge will be on the Hyperliquid of the trust and the operating expenses.

The Hyperliquid ETF is modeled as a trust. It will establish common shares of beneficial interest on a continuous basis. The fund will use the CF HYPE Dollar US Settlement Price to calculate its net asset value. The CF Benchmarks Ltd. creates this reference rate by collecting and combining trade data from the chosen Hyperliquid trading platforms.

Bitwise Sets ETF Structure Amid Growing Hyperliquid Competition

A share of trust will be redeemed and sold for a basket of 10,000 shares. The baskets WOULD represent the value of the underlying Hyperliquid per share. The calculation will compensate unpaid expenditure and liabilities. It is the typical creation and redemption scheme of crypto-linked ETFs.

The filing of Bitwise makes it one of the few issuers pursuing an approved exposure to Hyperliquid. VanEck, two weeks prior to Bitwise, registered to apply for a staking-oriented Hyperliquid ETF in the United States. VanEck has also sought two Hyperliquid ETF products in Europe. European regulators are less restrictive in crypto funds compared to the US authorities.

The SEC has not approved a Hyperliquid ETF yet. Staking-based versions are still not fully approved because exchange tokens are decentralized. Regulators are still examining the applicability of staking to current securities regulations. This warning has reduced the approval of more complicated crypto ETFs.