Hyperliquid news

Crypto asset manager 21Shares has filed a second amended S-1 registration for its Hyperliquid exchange-traded fund with the SEC, indicating progress toward launching what could be the first spot ETF based on Hyperliquid's HYPE token. The ETF is expected to list on Nasdaq under ticker symbol THYP. 21Shares plans to stake 30% to 70% of its HYPE holdings and purchase 20,000 shares at $25 each as an initial seed creation basket before listing. Bitwise and Grayscale have also filed applications for HYPE ETFs. HYPE was trading at $43.52, down 3% in 24 hours, with a market capitalization of $10.4 billion.

Hyperliquid (HYPE) has surged to a four-month high of $44.99, up over 7% in 24 hours amid a broader market rally. Three bullish signals support its outlook: the launch of a priority fee system on mainnet that burns HYPE tokens, creating consistent demand; HYPE hitting all-time highs against major pairs like Bitcoin and Solana, indicating relative strength; and institutional momentum with Bitwise filing for a potential ETF, which could bring new capital.

Arthur Hayes, co-founder of BitMEX, has purchased $1.1 million worth of Hyperliquid (HYPE) tokens, marking his first accumulation in three months. His total holdings now stand at $10.44 million, with unrealized gains of 27.22%. Hayes maintains a $150 price target for HYPE by August 2026, citing the platform's fee-based buyback model. Institutional interest is rising, with Bitwise and Grayscale filing for potential HYPE-related funds, which could drive capital inflows. Despite HYPE's strong yearly gains, it recently slipped 2% amid geopolitical tensions. Broader decentralized exchange volumes are declining, raising questions about whether ETF approvals and whale accumulation can offset cooling trading activity in Q2.

Bitwise has filed a second amendment to its proposed spot Hyperliquid ETF, adding Wintermute and Flowdesk as approved trading counterparties while removing A1. The fund, with ticker BHYP and a 0.67% annual management fee, could launch imminently in the U.S. The update follows Bitwise Europe's listing of a Hyperliquid staking ETP on Deutsche Börse Xetra. Bitwise remains the furthest along among U.S. issuers seeking approval for spot HYPE products, with HYPE gaining about 200% over the past year.

Bitwise has filed an amended S-1 with the SEC for an ETF tied to Hyperliquid's HYPE token, aiming to list on NYSE Arca under ticker BHYP. The fund would hold HYPE directly, track its price, and include a staking component to earn rewards. The filing details a 0.67% annual fee and custody with Anchorage Digital. HYPE's price has surged 200% over the past year, and other firms like Grayscale, 21Shares, and VanEck are also pursuing HYPE-linked ETFs.

Bitwise is preparing to launch a US exchange-traded fund (ETF) tied to the decentralized trading network Hyperliquid, as indicated by an amended SEC filing. The fund, with ticker symbol BHYP and a sponsor fee of 67 basis points, aims to provide exposure to Hyperliquid's value and earn staking rewards. This move follows Bitwise's expansion into alternative crypto assets and the recent listing of a Hyperliquid product on Deutsche Börse Xetra. Hyperliquid's HYPE token has surged 66% in 2026, outperforming the broader market, partly due to its utility during geopolitical stress when traders used it for hedging.

Bitwise Asset Management has filed a second amendment with the SEC for its proposed spot Hyperliquid ETF, including details like the ticker $BHYP and a 0.67% management fee, signaling a potential launch soon. The move comes amid competition from Grayscale and 21Shares, with Bitwise being the first to file in September. If approved, the ETF will trade on NYSE Arca and may offer staking returns, a feature not explicitly mentioned by competitors. Hyperliquid's token HYPE has surged 65% in 2026 and 182% over 12 months, with the platform ranking among top derivatives exchanges by volume.

Onchain analysts identified a suspected coordinated manipulation attempt involving Fartcoin on Hyperliquid, resulting in $3 million in liquidation losses for a whale and $1.5 million in losses for the protocol's liquidity vault. The incident involved four wallets linked to a single entity that accumulated a $15 million long position before triggering a liquidation in a low-liquidity environment, activating Hyperliquid's Auto-Deleveraging mechanism. Meanwhile, two short-side traders profited approximately $849,000 from the event. Fartcoin's price saw significant volatility, dropping over 13% in 24 hours after reaching an intraday high.

Binance maintained its leading position in crypto derivatives trading in Q1 2026, handling $4.9 trillion in derivatives volume, according to CoinGlass. The exchange dominated both derivatives and spot markets with similar shares of around 35% and 34% respectively among top venues. Decentralized exchange Hyperliquid broke into the top 10 derivatives exchanges by volume for the first time, recording $492.7 billion in Q1 trading. The platform has grown steadily since its launch and dominated the perpetual DEX sector in 2025 with up to 70% market share.

Hyperliquid's share of perpetual futures volume has grown to nearly 6% in March, up from 3.5% a year ago, with monthly volumes approaching $200 billion. This growth is notable as it continues despite overall exchange volumes declining from their 2025 peak. The platform is expanding into non-crypto assets like oil, which trade 24/7, highlighting a structural advantage over traditional markets. This positions Hyperliquid to potentially capture a share of the multi-trillion dollar traditional derivatives market.