Bitwise Hyperliquid ETF Application Amended as Arthur Hayes Makes Significant Purchase

Bitwise Asset Management has submitted an amended application for its Hyperliquid spot ETF to the US Securities and Exchange Commission (SEC). The updated filing includes details about the ticker symbol, which is set as $BHYP, and the management fee, which will be 0.67% or 67 basis points.

This development suggests that a product launch is likely imminent, according to Bloomberg senior ETF analyst Eric Balchunas, who notes that such details typically signal a product's readiness for market introduction. Bitwise was the first firm to submit a Hyperliquid ETF filing with the SEC in September 2025 and faces competition from Grayscale and 21Shares.

Meanwhile, Arthur Hayes, co-founder and former CEO of BitMEX, has made a significant purchase of Hyperliquid tokens worth over $1 million. On-chain data shows that Hayes bought 26,022 HYPE tokens on April 11, his first acquisition in nearly three months. This buy came as the token's price climbed back above the $40 mark.

Hyperliquid has experienced notable growth recently, with its trading volume reaching $492.7 billion in Q1 2026, placing it just behind Coinbase in ninth place among crypto derivatives platforms by volume.