Bitwise HYPE ETF Options Start Trading With Weekend Gap Risk

Options on Bitwise's BHYP ETF now trade, after Hyperliquid processed roughly $244 billion in 30-day perpetual trading volume. BHYP began trading on NYSE on May 15 and holds spot HYPE with in-house staking built into the fund. Bitwise's SEC filing says non-concurrent trading hours can cause BHYP to gap at the open and trade at a premium or discount to net asset value. Open interest of 50,000 contracts would reference roughly 2.8 million HYPE, north of $200 million in notional terms at recent prices.
HYPE-4.60%
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