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Launched · SEC filings

Bitwise Hyperliquid ETF

BHYPNYSE ArcaB

$45.70−1.28 (−2.72%)

At close: Oct 13, 2026, 4:00 PM

B66/ 100

Rank 8 of 26 in Crypto Spot

B66/100Rank 8 of 26inCrypto Spot
Intraday session: down, 67 prints from 46.98 to 45.70. Range 45.21 to 46.17. Use the arrow keys to read each point.45.5046.0046.5010 AM12 PM2 PM4 PM
Expense ratio
0.34%
Fund size
$180M
1Y total return
—
Yield · Last 12 months
—
Holdings
1
Avg volume · 30D
0.4M sh
NAV per share
$47.17
52W range
low $24.18high $54.57
Launched
Filings
SEC EDGAR

The ETF.net BHYP Grade

Based on 4 of 6 pillars

B

Score 66 out of 100

Category
Crypto Spot⁠
Rank
8 of 26
Six-pillar profile for BHYP. Scores out of 100: Cost 68, Risk 70, Mission not scored, Tradability 64, Holdings not scored, Durability 60. Strongest: Risk (70). Weakest: Durability (60). Based on 4 of 6 pillars.

Score 66 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.
    A70 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 10 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.
    B60 out of 100
    Rank 9 of 26

Our read on BHYP

ETF.net Research

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

  1. 01Bitwise 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
  2. 02Two 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.
  3. 03The 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
  4. 04Among the stronger implementations in a Hyperliquid field that got crowded fast, on cost and risk marks together.

Worth knowing

  1. 01Cheaper 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.
  2. 02The 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
  3. 03One 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

As of Oct 12, 2026
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 valueIn ETFs
001—Hyperliquid100.00%2,188,449$184M3

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$12,438
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. BHYP $12,438. SPY $10,332. Use the arrow keys to read each point.$7,257$11,076$14,895Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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 year—
1 month+3.4%
3 months+24.4%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, 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+87.8%

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 Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed May 2026. No distributions yet.

BHYP Risk

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.

BHYP Cost

Expense ratio0.34%
  • The middle half of Crypto Spot funds
  • Median 0.35%

6 of the 26 Crypto Spot funds charge less.

BHYP costs $34.00 a year on $10,000. The median Crypto Spot fund costs $35.00.

Other funds in Crypto Spot

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