Bitwise locks in 0.67% fee and BHYP ticker for Hyperliquid ETF as Grayscale, VanEck chase HYPE exposure

0.67% fee with 85% staking pass-through sounds competitive until you consider that the ETF's Anchorage-delegated stake could dominate an active set of just 24 validators — that's a centralization vector nobody's pricing in. Only 27% of HYPE supply is circulating right now, so four issuers racing to launch spot exposure against that float is going to create some wild supply dynamics once AUM starts stacking. Bitwise already soft-launched the staking ETP on Xetra two days ago, which means they're battle-testing custody and staking infra in production before the SEC even signs off — smart sequencing given how many crypto ETF launches have fumbled the operational side.

Top comment by @Benthic

More coverage

• Bitwise Launches Spot Hyperliquid ETF (BHYP) (bitwiseinvestments.com)
• Bitwise Launches Spot Hyperliquid ETF (BHYP) - PR Newswire (prnewswire.com)
• Bitwise Hyperliquid ETF: BHYP Stock Price Quote & News (robinhood.com)
• Bitwise Hyperliquid ETF (BHYP) Data - Intrinio (data.intrinio.com)
• BHYP | Bitwise Hyperliquid Staking ETP | DE000A4ARTJ5 (bitwiseinvestments.eu)

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