Bitwise's New BHYP ETF Wants to Stake Your HYPE—67bps Fee, Here We Go

Bitwise just dropped its Hyperliquid ETF paperwork, and the filing is about as close to launch-ready as it gets. The amended SEC registration lays out the nitty-gritty: the trust will give investors plain-vanilla exposure to HYPE plus some extra yield from staking rewards. For those who've been watching the ETF approval circus from the sidelines, this is basically thecrypto equivalent of someone texting "we should talk" at 2am—it's either the beginning of something beautiful or a trap.

The new ticker? $BHYP. The sponsor fee sits at a clean 67 basis points. That's 0.67% annually to have someone else handle your staking validator responsibilities while you watch Netflix and collect yield. Industry folks say these additions typically signal the final steps before a fund hits national exchanges—which means we're probably exactly 47 regulatory delays away from seeing this on your broker's platform.

This Bitwise fund plugs into a broader expansion push. The asset manager has been aggressively rolling out products beyond Bitcoin and Ethereum, now offering regulated access to Solana, Chainlink, and XRP. Bitwise's strategy appears to be "why pick a winner when you can charge fees on all of them"—a vision so beautiful it almost makes traditional finance look lazy.

On April 9, Bitwise also debuted a physically-backed Hyperliquid staking product on Deutsche Börse Xetra. That instrument tracks the Kaiko HYPE Reference Rate LDNLF index and automatically captures on-chain staking yields—saving institutional allocators the headache of managing private keys and custody infrastructure. Because apparently the future of finance is executives who can't explain what a private key is but definitely need exposure to DeFi yields.

HYPE has been on an absolute tear, up 66% since the start of 2026 and roughly 200% over the past year. The token's utility got a real-world test when