PANews reported on May 15th that, according to The Block, the Bitwise Hyperliquid ETF will begin trading on the New York Stock Exchange on Friday under the ticker symbol BHYP. This fund will be the first in the US to offer Hyperliquid staking rewards, implemented through the company's in-house staking arm, Bitwise Onchain Solutions. BHYP has a management fee of 0.34%, with the first $500 million in assets exempt from management fees during the first month.

Bitwise Chief Investment Officer Matt Hougan stated that Hyperliquid has become one of the most attractive investment opportunities in the crypto space. During the geopolitical tensions in February when traditional markets were closed, global traders turned to Hyperliquid for price discovery, with Bloomberg citing its crude oil contracts as the most relevant market price.