Journalist
Published:
A hyperliquid US spot exchange-traded fund (ETF) could soon hit the markets.
According to Bloomberg ETF analyst Eric Balchunas, the amended Dec. 15 filing, along with the inclusion of fees, ticker tape and other details, meant the launch was “imminent.”
Source:
Latest update deposit added an annual management fee of 0.67% and a ticker (BHYP). Additionally, the fund will have a staking plan to share rewards with investors.
Will institutional demand increase the value of HYPE?
If approved, the product will be the first HYPE spot ETF, providing an additional demand line for the altcoin.
For McKenna, managing partner of crypto-VC firm Arete, “institutional access” to hyperliquid (HYPE) will be a dominant priority in 2026. He added,
“From my conversations, large asset managers are very focused on hyperliquid and view it as one of the few attractive investment opportunities based on the size of its cash flow.”
Collectively, the DEX and its Layer 1 (L1) generated a cumulative income of $824 million in December 2025, but it is run by a team of just 11 people.
That said, 21Shares has also applied for a HYPE spot ETF and would add to the list if approved. In addition to ETFs, hyperliquid strategies finalized a merger that formed the largest corporate treasury HYPE.
Futures demand for HYPE stagnates
Despite the positive updates, speculative interest, as tracked by total open interest (OI), remained stable in the fourth quarter.
Futures market OI fell from a peak of $2.1 billion in September to around $1 billion in December. This represents a 50% decrease in speculative interest over the past three months.
Source: Bike
However, the broader crypto market has also contracted over the same period. Additionally, HYPE’s monthly unlocks have spooked some investors.
Despite this, the project’s token buyback is still in full swing and acquired 73.8K HYPE in the last 24 hours.
Compared to punter rewards of 26.6K HYPE, the asset was deflationary, a condition that could help spur recovery if market sentiment improves.
However, Altcoin analyst Sherpa warned this altcoin could fall to $20 amid broader market weakening.
Source: Trading View
At press time, HYPE was trading at $27, down 54% from its all-time high (ATH) of $59.
Final Thoughts
- HYPE may soon join the US spot altcoin ETF club following Bitwise’s recent amended filing.
- However, speculative interest and price action remain subdued amid widespread market weakness.
