Hyperliquid ETF Filings Signal New Era for DeFi Perpetuals

Four major asset managers have filed for Hyperliquid ETFs, positioning HYPE as the first decentralized exchange token to receive serious institutional product consideration. Combined with the January 2026 HyperEVM mainnet launch, Hyperliquid's dominance of the perpetual DEX market represents a fundamental shift in how professional capital accesses on-chain derivatives.

The ETF Race Is On

Bitwise, VanEck, Grayscale, and 21Shares have all filed for Hyperliquid-related products with the SEC. Bitwise's S-1 filing from September 2025 proposes a spot HYPE ETF with a 0.67% fee under ticker BHYP. The SEC has up to 240 days to rule, putting the decision window in Q1-Q2 2026.

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