Bitwise introduces Hyperliquid investment fund in US markets featuring staking benefits
The new BHYP fund provides direct market exposure to HYPE tokens from Hyperliquid and plans to stake part of its assets using Bitwise's proprietary staking operations.
Bitwise Asset Management has introduced a new investment vehicle listed in the United States that provides exposure to Hyperliquid, giving investors direct access to the token alongside staking benefits associated with the decentralized derivatives trading platform.
Trading under the BHYP ticker symbol on the New York Stock Exchange, this fund represents the second Hyperliquid-focused product to debut in US markets within the current week. According to Bitwise, the fund intends to stake a substantial portion of its HYPE (HYPE) token reserves using the company's proprietary staking operations division.
Hyperliquid functions as a layer 1 blockchain oriented toward decentralized trading that debuted in 2023, providing perpetual futures contracts, spot market trading and lending functionalities. According to Bitwise's statement, the platform facilitated approximately $2.9 trillion in total trading volume throughout 2025 and represented around 60% of worldwide onchain derivatives open interest as of May 5, based on information from DefiLlama data.
HYPE maintained a trading price of approximately $44 on Friday alongside a market capitalization estimated at roughly $11.22 billion, positioning it as the 10th-largest cryptocurrency measured by market value, based on CoinMarketCap data. The token serves multiple functions including staking, governance mechanisms and broader ecosystem engagement.
Bitwise, which oversees approximately $11 billion in client assets spanning crypto investment vehicles including exchange-traded funds, private investment funds and staking-focused strategies, announced the fund will impose a 0.34% sponsor fee, though this charge will be waived during the initial month for the fund's first $500 million in managed assets.
Hyperliquid draws growing institutional interest
This product debut arrives amid rising institutional demand for Hyperliquid and HYPE-related investment vehicles spreading throughout crypto asset management firms, venture capital organizations and digital trading platforms.
Just days earlier this week, 21Shares introduced its THYP Hyperliquid fund to US markets, attracting approximately $1.2 million in net capital inflows alongside $1.8 million in trading volume during its inaugural trading session, based on data from Bloomberg ETF analyst James Seyffart. Grayscale Investments continues waiting for regulatory approval on its proposed Hyperliquid-focused fund.
On Wednesday, onchain analytics source Lookonchain reported that digital wallets associated with venture capital firm Andreessen Horowitz had acquired approximately $67 million worth of HYPE throughout the preceding month and staked around $51 million worth of the token.
The subsequent day, Coinbase made public its plans to serve as the official treasury deployer for USDC (USDC) operating on Hyperliquid, where the stablecoin's total supply has expanded to approximately $5 billion since the network's launch in 2023, according to available DeFiLlama data.
As Hyperliquid continues gaining momentum as a decentralized derivatives exchange platform, centralized cryptocurrency firms have simultaneously broadened their presence within perpetual futures markets and offshore derivatives trading through newly introduced trading products and international market expansions.
Earlier during the current year, Coinbase introduced stock perpetual futures contracts for qualifying non-US users, while Kraken deployed tokenized equity perpetual futures products linked to underlying assets including Nvidia (NVDA), Apple (AAPL) and Tesla (TSLA) designed for offshore clientele.