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Launched · SEC filings

Bitwise Hyperliquid ETF

BHYPNYSE ArcaBitwiseB

$46.69−4.27 (−8.38%)

At close: Nov 2, 2026, 4:00 PM ET

B67/ 100

Rank 8 of 26 in Crypto Spot

B67/100Rank 8 of 26inCrypto Spot
Intraday session: down, 79 prints from 50.96 to 46.69. Range 46.58 to 48.46. Use the arrow keys to read each point.48.0049.0050.0010 AM12 PM2 PM4 PM
Expense ratio
0.34%
Fund size
$162M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
364K sh
52W range
low $24.18high $54.57
Launched
Filings
SEC EDGAR

The ETF.net BHYP Grade

Based on 4 of 6 pillars

B

Score 67 out of 100

Category
Crypto Spot⁠
Rank
8 of 26
Six-pillar profile for BHYP. Scores out of 100: Cost 68, Risk 73, Mission not scored, Tradability 64, Holdings not scored, Durability 59. Strongest: Risk (73). Weakest: Durability (59). Based on 4 of 6 pillars.

Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B68 out of 100
    Rank 7 of 26

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A73 out of 100
    Rank 6 of 26

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B64 out of 100
    Rank 8 of 26

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B59 out of 100
    Rank 10 of 26

Our read on BHYP

ETF.net Research

In short

BSpot Hyperliquid in a brokerage account, with a twist: Bitwise stakes the trust's HYPE on its own infrastructure instead of renting a third-party validator. One of the first US Hyperliquid ETFs, launched in 2026.

Stated mandate

The fund seeks exposure to the value of Hyperliquid held by the Trust, after expenses and liabilities, and also seeks additional Hyperliquid through staking.

Why people hold it

  • Bitwise says it is the only Hyperliquid ETP sponsor that stakes HYPE through its own operation (Bitwise Onchain Solutions) rather than a third-party provider.bitwiseinvestments.com
  • Two jobs, one wrapper: exposure to the HYPE the trust holds after expenses, plus additional HYPE sought through staking, inside a grantor trust that trades like a stock.
  • The 0.34% sponsor fee sits right around the middle of the spot crypto pack, and the fund arrived in the first wave of US Hyperliquid ETPs.bitwiseinvestments.com
  • Among the stronger implementations in a Hyperliquid field that got crowded fast, on cost and risk marks together.

Worth knowing

  • Cheaper HYPE wrappers exist: THYP at 0.30% and HYPG at 0.29%. The gap is a few basis points, paid for the in-house staking setup.
  • The sponsor fee comes out of the fund's HYPE, so the HYPE behind each share declines over the life of the fund, whichever way the token moves.bitwiseinvestments.com
  • One token, one protocol, and a track record measured in months since the 2026 launch. Staking rewards depend on network conditions and are not promised.bitwiseinvestments.com

BHYP Holdings

Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
Hyperliquid100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataHyperliquid100.00%1,952,934$176M3

Showing 1–1 of 1 holdings

BHYP Performance

Launched May 14, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
BHYP$15,881
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,093
Jul 31, 2026 to Nov 2, 2026. BHYP $15,881. SPY $10,093. Use the arrow keys to read each point.$10,000$12,500$15,000$17,500Jul 2026Sep 2026Nov 2026

Jul 31, 2026 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BHYP. Periods over one year show the average yearly return.
PeriodBHYP
Year to dateFund launched this yearNo data
1 month−4.2%
3 months+58.8%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BHYP
YearReturn barBHYP
2026 YTD+86.6%

History from May 15, 2026

BHYP in the news

BHYP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed May 2026. No distributions yet.

BHYP Risk

Risk pillarA73 out of 100Rank 6 of 26 in Crypto Spot
How much the fund’s monthly returns vary, scaled to a year.
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.00
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

BHYP Cost

Compare BHYP and XRPZ

Overpaying vs XRPZ, cheapest in Crypto Spot

$2,980

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BHYP 0.34%

    $6,932

  • XRPZ 0.19% Cheapest

    $3,952

$10,000
30 years

Cost over time

  • BHYP 0.34%
  • XRPZ 0.19%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530BHYP $6,932XRPZ $3,952

Year by year

YearBHYPXRPZOverpaying
10$616$347$269
20$2,386$1,351$1,035
30$6,932$3,952$2,980

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