Bitwise Asset Management launched its Hyperliquid ETF on the New York Stock Exchange on May 15, giving U.S. investors a regulated route to Hyperliquid exposure without requiring direct token purchase, custody, or personal storage, according to its official release.
The fund trades under the ticker BHYP. Bitwise claimed the product is designed to provide an exchange-traded option for investors to gain easy access to Hyperliquid.
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Hyperliquid ETF Adds In-House Staking Feature
As per the report, the firm has approximately $11 billion in client assets under management. It described BHYP as one of the first spot Hyperliquid exchange-traded products available in the United States.
According to Bitwise, the Hyperliquid ETF also includes in-house staking. Bitwise Onchain Solutions will be holding some tokens to support the network and earn rewards for the fund, the company said.
Bitwise said the staking feature makes the product different from other crypto exchange-traded vehicles. Rewards might also be advantageous for the fund, but the total value will depend on token and network conditions.
However, the company warned that BHYP carries a high level of risk. It stated that there is significant risk of volatility and potential loss of invested capital in the fund.
Bitwise added that the Hyperliquid ETF is not regulated like traditional investment firms. The product does not provide the same protections associated with conventional ETFs or mutual funds, it added.
The warning placed risk disclosure near the center of the launch. Bitwise stated the arrangement should not be considered a typical regulated investment fund.
The firm reminded investors that past performance does not guarantee future results. It also advised that potential investors should consider the risks before taking any investment decision.
BHYP carries a sponsor fee of 0.34%. For the first $500 million in assets, Bitwise will waive the fee for the first month.
Hyperliquid ETF Expands Regulated Crypto Exposure
Bitwise Chief Investment Officer Matt Hougan said Hyperliquid gained attention during global tension in early 2026. He said traditional markets were closed then, and the traders were still using Hyperliquid to gauge price signals.
At the time, Hougan said big outlets such as Bloomberg cited Hyperliquid’s oil contract as a key reference. He also claimed that Hyperliquid was one of the most promising investment opportunities in cryptocurrencies.
The launch of the Hyperliquid ETF arrives as more crypto-related funds are being rolled out in regulated markets. This trend has introduced further blockchain exposure into products that traditional investors use.
Bitwise’s move also follows activity from 21Shares. The asset manager announced earlier this week that it had launched a Hyperliquid product called THYP on Nasdaq.
That product is expected to start trading this month. 21Shares also launched the 21Shares 2x Long HYPE ETF on April 30.
Hyperliquid ETF introduces BHYP into an emerging sub-category of cryptocurrency investment products. This also highlights how asset managers are structuring token exposure within regulated exchange-traded wrappers.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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