Bitwise launches Hyperliquid spot ETF, using autonomous collateralization

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BlockBeats News, May 15, according to official information, Bitwise Asset Management announced the launch of the Bitwise Hyperliquid ETF (BHYP), providing 100% direct spot exposure to HYPE assets, and pioneering the use of self-collateralization rather than third-party collateral providers. The ETF will begin trading tomorrow.

Bitwise said that Hyperliquid is one of the most important on-chain trading platforms in the world. With the geopolitical conflict in the Middle East breaking out early Sunday morning and traditional markets closed, institutions did not wait for the Monday opening, but instead shifted to Hyperliquid. According to DeFi Llama data, Hyperliquid accounts for about 60% of the total open interest of all on-chain perpetual DEXs worldwide; according to Chainspect data, it processes 200,000 orders per second and has built a reliable operating track record at critical times. In an extremely short period, Hyperliquid achieved significant market adoption without relying on venture capital.

Bitwise said that the launch of this ETF is intended to provide investors with a convenient, low-cost way to participate, along with built-in staking rewards. The company also said that as capital markets move on-chain, Hyperliquid is expected to become one of the biggest winners.

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