Key Takeaways
- Bitwise’s Hyperliquid ETF would provide direct, physically backed exposure similar to spot Bitcoin ETFs.
- The filing signals growing demand for regulated access to emerging digital assets beyond Bitcoin and Ethereum.
Bitwise Asset Management has filed an S-1 registration statement with the Securities and Exchange Commission for a spot Hyperliquid ETF. The fund, structured as a Delaware statutory trust, will hold Hyperliquid directly and reflect its value through a daily net asset value benchmark.
The ETF is designed to allow investors to gain exposure to Hyperliquid via traditional brokerage accounts without directly managing the asset. Coinbase Custody Trust Company is expected to act as custodian, while Bitwise Investment Advisers will serve as the sponsor.
The filing notes that shares will be issued and redeemed in large blocks by authorized participants, similar to existing spot Bitcoin ETFs. Bitwise emphasizes that the trust will not use derivatives or leverage, focusing solely on physically backed Hyperliquid holdings.
HYPE surged 4% following the filing news and was last changing hands at $42.5 at press time.
