Bitwise Launches Hyperliquid Spot ETF, Second HYPE Fund on US Exchanges

Bitwise launched its Hyperliquid spot ETF ($BHYP) on Friday, May 15, marking the second spot HYPE ETF approved for US exchanges. The move follows Grayscale's earlier spot HYPE ETF ($THYP). Grayscale and VanEck have also filed for their own Hyperliquid ETF products, indicating growing institutional demand for direct exposure to the Hyperliquid blockchain.

The launch reflects accelerating adoption of spot crypto ETFs in the United States. Spot ETFs allow traditional investors to gain direct exposure to digital assets through regulated, exchange-traded vehicles without holding the underlying tokens directly.

Hyperliquid is a blockchain platform focused on decentralized derivatives trading. The filing of multiple Hyperliquid ETF applications by major asset managers suggests confidence in the protocol's market position and suggests institutional interest in providing easier access to HYPE tokens.

Sources: J. Seyff on X (Twitter)

This article was produced with the help of AI flows.