Bitwise Launches Hyperliquid Fund on US Exchange
Bitwise Asset Management has introduced a new investment product linked to the Hyperliquid platform on a US exchange. The fund, traded on the New York Stock Exchange under the ticker BHYP, provides investors with direct exposure to the HYPE token and access to the platform's staking rewards. This was reported by Cointelegraph.com reports .
Hyperliquid is a Layer 1 blockchain focused on decentralized derivatives trading, launched in 2023. According to DefiLlama, the platform recorded a trading volume of nearly $2.9 trillion in 2025, capturing 60% of the global on-chain derivatives market.
The HYPE token is currently among the top 10 largest cryptocurrencies by market capitalization. Bitwise plans to stake a significant portion of the fund's HYPE assets through its staking division. The fund carries a 0.34% expense ratio, with no fees charged for the first month on the initial $500 million in assets.
Interest in Hyperliquid among crypto asset managers and venture funds is growing. Notably, 21Shares has also launched its THYP fund, while Grayscale Investments is awaiting approval for its offering. Additionally, Coinbase has become the official treasury operator for USDC on the Hyperliquid network.
These developments indicate that centralized crypto firms are expanding their influence in the derivatives market. Major players like Coinbase and Kraken have already introduced tokenized futures trading for international clients linked to assets such as Apple, Tesla, and NVIDIA.
