🚨 THE FIRST-EVER HYPERLIQUID ETF JUST TOOK ITS BIGGEST STEP YET AND WALL STREET IS ABOUT TO GET FLOODED WITH REAL DEFI EXPOSURE.

Bitwise filed the amended S-1 application. Ticker and fees are now officially locked in. Bloomberg’s Eric Balchunas (the guy who’s called every major crypto ETF launch) says this exact move almost always means approval and trading are imminent.
Here’s what just dropped:
• Ticker: $BHYP
• Management fee: 0.67% (67 basis points)
• Form 8-A registration filed, the late-stage paperwork that turns a filing into a product ready for NYSE Arca.
This isn’t another Bitcoin or Ethereum copycat.
This is the first spot ETF giving traditional investors direct exposure to HYPE, the native token of Hyperliquid, the on-chain perpetuals DEX that’s been crushing records with billions in weekly volume while everything stays fully decentralized on its own L1.
Hyperliquid already dominates on-chain perps. Record burns. Massive open interest. Institutions have been circling it for months. Now the same playbook that sent $BTC ETFs to $50B+ AUM, $SOL ETFs to nine figures in weeks, is about to hit the real king of decentralized trading.
The gap between TradFi and actual on chain alpha just got a hell of a lot smaller.
This is the one they’ll be talking about for the rest of 2026.