Bitwise Launches Spot Hyperliquid ETF to Expand Crypto Product Lineup

Bitwise has announced plans to launch a spot Hyperliquid ETF, which will allow traditional investors to gain exposure to the decentralized exchange protocol's native token, HYPE. This move is part of Bitwise's effort to expand its crypto investment product lineup.

The new fund, BHYP, will provide regulated exposure to HYPE without requiring direct custody of the token. This is significant because it removes technical barriers such as self-custody and on-chain interaction, making it easier for institutional allocators to invest in the asset.

Hyperliquid operates as a Layer 1 blockchain purpose-built for on-chain derivatives trading, with its native token powering staking, governance, and fee mechanisms. The protocol's focus on high-speed derivatives infrastructure distinguishes it from broader DeFi platforms.