Asset management firm Bitwise launched a new exchange-traded fund (ETF) today, May 15, 2026. The instrument is called Bitwise Hyperliquid ETF and trades under the symbol BHYP on the New York Stock Exchange (NYSE).
So far in its first trading day, the BHYP has already report capital inflows reaching $750,000. The fund is based on HYPE, Hyperliquid’s native cryptocurrency. This is a decentralized financial network that is specifically geared toward trading perpetual futures contracts.
The main novelty of this product is that it performs staking without depending on third parties. To achieve this, Bitwise indicates which uses its own internal infrastructure division, called Bitwise Onchain Solutions.
Regarding costs, The prospectus details that the commission will be 0.34% annual. However, the firm offers a 0% rate incentive for the first month for the first $500 million in assets entering the fund.
Matt Hougan, the company’s chief investment officer, said: “Hyperliquid has established itself as one of the most attractive investment opportunities in the world of cryptocurrencies.” He highlighted that “when geopolitical tensions skyrocketed on a weekend in February [conflicto Estados Unidos e Irán] and traditional markets closed, the world turned to Hyperliquid to determine prices.
The launch of Bitwise intensifies competition in the US market. The new fund is added as a direct rival to an alternative issued by the manager 21Shares on May 12, called 21Shares Hyperliquid ETF (THYP), which also offers staking returns, as reported by CriptoNoticias. The difference is that 21Shares delegates the staking process to an external company called Figment.
Since its debut this week, the 21Shares HYPE ETF has cumulative inflows of $7.42 million and recorded a daily net inflow of $4.90 million yesterday, May 14, according to SosoValue data.
The dispute to attract the capital of investors interested in this network will soon add new players. The Grayscale firm made a presentation on March 20 before regulatory authorities with the aim of issuing its own Hyperliquid exchange-traded fund.