Hyperliquid (HYPE) Price: Bitwise ETF Filing Nears Launch as Arthur Hayes Buys Again

TLDR

• Bitwise submitted a second revision to its Hyperliquid ETF application, introducing the ticker $BHYP and a 0.67% management charge.
• According to Bloomberg ETF analyst Eric Balchunas, such updates usually indicate an imminent product launch.
• HYPE has seen a 65% increase since early 2026, currently trading near $41.96, and has risen approximately 182% over the past year.
• Arthur Hayes acquired 26,022 HYPE tokens, valued at more than $1 million, marking his initial purchase in nearly three months.
• Hyperliquid entered the top 10 crypto derivatives platforms by volume in early April, recording $492.7 billion in Q1 trading volume.

(SeaPRwire) –   Bitwise Asset Management has submitted a second revision to its Hyperliquid spot ETF application to the US Securities and Exchange Commission. This updated submission includes the ticker $BHYP and establishes a management fee of 0.67%, equivalent to 67 basis points.

Bloomberg senior ETF analyst Eric Balchunas commented on the update via X, stating that such specifics generally suggest an upcoming product launch. He also mentioned that HYPE has surged 200% in the last year, implying Bitwise is probably aiming for a swift launch.

Bitwise has provided another update for its Hyperliquid ETF, now including the ticker $BHYP and a 67 basis point fee. This usually indicates an imminent launch. HYPE has gained 200% in the past year, so they are likely aiming to capitalize on its current momentum.

— Eric Balchunas (@EricBalchunas) April 10, 2026

Bitwise was the initial company to file a Hyperliquid ETF application with the SEC, doing so in September 2025. It now competes with Grayscale, which filed in late March 2026, and 21Shares, which submitted its application a month after Bitwise.

Should it receive approval, the ETF would be traded on the NYSE Arca exchange, offering investors direct access to HYPE’s spot price. Bitwise previously suggested in an earlier amendment that the fund might yield additional returns via HYPE staking, a feature not mentioned by either Grayscale or 21Shares.

Arthur Hayes Buys $1 Million in HYPE

Blockchain data from Lookonchain reveals that Arthur Hayes, co-founder and former CEO of BitMEX, acquired 26,022 HYPE tokens for slightly over $1 million on April 11. This marked his initial HYPE acquisition in almost three months.

Arthur Hayes (@CryptoHayes) has once again acquired 26,022 $HYPE (valued at $1.1M) following a nearly three-month hiatus. He currently possesses 247,334 $HYPE (worth $10.44M) and has seen gains exceeding $2.5M.https://t.co/BVqcbjKBOc

— Lookonchain (@lookonchain) April 11, 2026

Hayes currently possesses 247,344 HYPE, valued at roughly $10.44 million, showing an unrealized profit of about $2.5 million.

This acquisition occurred as HYPE surpassed the $40 threshold once more. The token had fallen below $27 in late February following the onset of the conflict in Iran, subsequently surged to $44 by mid-March, retreated to $34, and then rebounded to approximately $42 when the purchase was made.

Bloomberg’s Balchunas shared on X: “Bitwise has provided another update for its Hyperliquid ETF, now including the ticker $BHYP and a 67 basis point fee. This usually indicates an imminent launch. HYPE has gained 200% in the past year, so they are likely aiming to capitalize on its current momentum.”

HYPE Performance and Platform Growth

As per CoinGecko, HYPE is trading at approximately $41.96, representing an increase of about 65% since the beginning of 2026 and roughly 182% over the last year.

In early April, blockchain analytics platform CoinGlass announced that Hyperliquid had entered the top 10 crypto derivatives platforms by volume. For Q1 2026, Hyperliquid recorded $492.7 billion in trading volume, positioning it just behind Coinbase in ninth place by approximately $90 billion.

Based on CoinGecko data, HYPE was valued at approximately $41.96 on April 11, 2026.