Bitwise files updated S-1 for Hyperliquid ETF as HYPE fund race heats up

Bitwise files updated S-1 for Hyperliquid ETF as HYPE fund race heats up

Crypto asset manager Bitwise has filed an amended registration statement with the U.S. Securities and Exchange Commission for a proposed exchange-traded fund (ETF) tied to Hyperliquid’s HYPE The updated S-1 for the fund, which would hold HYPE directly and list on NYSE Arca, said it would trade under the ticker BHYP. The fund aims to track the token’s price, offering investors exposure to it without leveraging crypto exchanges or wallets. The proposed product includes a staking component. Bitwise said the fund would stake a portion of its holdings to earn additional tokens, with about 85% of staking rewards retained after fees. The filing also details a 0.67% annual management fee and custody arrangements with Anchorage Digital, a federally chartered crypto bank. The price of Hyperliquid’s HYPE token has surged over the past year. The token is up around 200% over the last 12 months, as it became the go-to decentralized trading platform for perpetual contracts, including those tied to traditional financial products. Other asset managers have also moved to list HYPE-linked exchange-traded funds. These include Grayscale, which filed last month to list under the ticker GHYP on Nasdaq, as well as 21Shares and VanEck. As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve. Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.