Bitwise Asset Management has taken a significant step toward launching a Hyperliquid ETF, filing a second amendment that reveals the ticker BHYP and a management fee of 0.67% (67 basis points). Bloomberg ETF analyst Eric Balchunas noted that filings containing finalized details like ticker and fee typically signal growing approval momentum and prepare the market for rollout. If approved, the ETF would open regulated exposure to Hyperliquid, a fast-growing decentralized perpetuals trading platform, attracting institutional capital.
Real Adoption Drives Market Share Growth
Over the past year, Hyperliquid's exchange trading volume market share climbed from 3.5% to nearly 7%, driven by actual usage rather than speculation. Balchunas humorously remarked on X: "Hyperliquid sounds like the name of a rave I attended in 1994 but barely remember." The comment underscores how crypto-native platforms are entering mainstream financial conversations. HYPE, the native token, has seen strong traction across retail and institutional markets, recently hitting $41.80—matching a technical target set by analyst Ali Martinez.
Whale Accumulates 59,239 HYPE Ahead of Catalyst
On-chain data bolsters the bullish narrative. According to Lookonchain, a newly created wallet (0x96eb) deposited 5 million USDC into Hyperliquid and used 2.39 million USDC to purchase 59,239 HYPE tokens. Such behavior is often linked to strategic positioning before major catalysts: fresh wallet creation suggests deliberate accumulation, and large capital deployment signals strong conviction—likely ahead of ETF approval or liquidity expansion.
Arthur Hayes Sees HYPE at $150 by August 2026
BitMEX co-founder Arthur Hayes made a bold long-term projection, predicting HYPE could reach $150 by August 2026. His bullish outlook rests on two pillars: Hyperliquid's growing dominance in decentralized perpetual trading, and its aggressive tokenomics—97% of protocol revenue is used for buybacks, reducing circulating supply and creating persistent upward price pressure. As price action confirms bullish expectations, market sentiment continues to strengthen.