TLDR
- Bitwise’s Hyperliquid ETF filing suggests a fast launch with 0.67% fee.
- Hyperliquid ETF gives institutional investors exposure to HYPE token.
- Bitwise’s new ETF targets growing interest in altcoins like Hyperliquid.
- Hyperliquid ETF could boost liquidity and drive up HYPE token value.
- Bitwise’s Hyperliquid ETF edges closer to launch with a 0.67% fee.
Bitwise Asset Management has taken a significant step toward launching its Hyperliquid ETF, filing an amendment with the U.S. Securities and Exchange Commission (SEC). This filing includes a Form 8-A registration statement, which is often one of the final steps before an exchange-traded fund (ETF) can start trading. With the addition of the proposed ticker symbol “BHYP” and a management fee of 0.67%, the latest filing suggests a quick launch for the Bitwise Hyperliquid ETF.
Amended Filing Brings ETF Closer to Launch
The recent amendment to Bitwise’s Hyperliquid ETF filing includes critical details that indicate the fund is nearing its launch. The filing disclosed a 0.67% management fee, which will be charged annually to the fund’s holdings. Although this fee is slightly higher than many crypto ETFs, it remains competitive within the market, especially considering the growing interest in altcoins like Hyperliquid.
The SEC’s approval process allows ETF issuers to become effective within 30 to 60 days after their initial S-1 filing. With this recent update, the timeline for approval appears to be moving swiftly. The inclusion of a finalized ticker symbol and a specific management fee signals that Bitwise is preparing for a timely launch of the Hyperliquid ETF.
The filing also reveals that the fund will be structured as a trust that issues common shares of beneficial interest. Shares will be created and redeemed in groups of 10,000, based on the amount of Hyperliquid each share represents. This trust structure is typical for ETFs, allowing for transparent tracking of Hyperliquid’s performance.
Hyperliquid ETF to Tap into Institutional Crypto Investment
The Hyperliquid ETF will allow investors to gain exposure to HYPE, the native token of the Hyperliquid platform, without holding the asset directly. Hyperliquid is a high-performance blockchain and decentralized exchange (DEX) for perpetual futures trading, offering fast and cost-effective crypto derivatives. This structure is expected to appeal to institutional investors who want to enter the growing crypto space without the risks associated with direct token ownership.
The launch of the Hyperliquid ETF also aligns with Bitwise’s strategy to tap into the altcoin market, which has seen significant interest. Similar to its previous launches, including the Solana and XRP ETFs, the Hyperliquid ETF is expected to attract more institutional investment. This could increase liquidity in the Hyperliquid ecosystem, potentially driving up the value of the HYPE token.
Bitwise’s confidence in the future of altcoins is evident, as the company continues to launch products aimed at capitalizing on this market. The strong institutional adoption of its previous ETFs, such as the Solana and XRP funds, supports this belief. As the Hyperliquid ETF nears its launch, all signs suggest that Bitwise is positioning itself to be a major player in the altcoin ETF market.
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