Summary
- Bitwise has submitted a second amended filing to the U.S. Securities and Exchange Commission for the launch of a spot Hyperliquid (HYPE) exchange-traded fund (ETF).
- The ETF will use most of its holdings for staking, while keeping about 30%% for liquidity, and will charge a 15%% fee on staking rewards.
- Bitwise disclosed the ETF ticker 'BHYP' and an annual management fee of 0.67%% in an amended filing in December last year, and listed a Hyperliquid staking exchange-traded product (ETP) in Europe under the same ticker on July 9.
Forecast Trend Report by Period
Bitwise has filed a second amended application to launch a spot exchange-traded fund tied to Hyperliquid's HYPE token.
The Block reported on July 11 that the asset manager submitted the revised filing to the U.S. Securities and Exchange Commission, providing more detail on trading counterparties and the fund's operating structure. The approved counterparties are FalconX, Flowdesk, Nonco and Wintermute.
A1, which had been included on the earlier list, was removed. Anchorage Digital Bank will serve as custodian. The fund will use CF Benchmarks' 4 p.m. Eastern Time pricing.
Bitwise had previously disclosed the ETF's ticker, BHYP, and an annual management fee of 0.67% in an amended filing in December last year.
The ETF plans to use most of its holdings for staking, while keeping about 30% separate to secure liquidity. Staking rewards will be subject to a 15% fee, which Bitwise and the staking operator will split.
Bitwise also listed a Hyperliquid staking exchange-traded product in Europe under the same ticker, BHYP, on July 9.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
