Hyperliquid could soon gain an extra investor base as its U.S Spot HYPE ETF debut looks imminent. 

According to Bloomberg ETF analyst Eric Balchunas, Bitwise updated its Spot HYPE ETF filing, including a ticker BHYP and a fee 0.67%. Per Balchunas, such updates “typically mean a launch is soon,” adding that, 

HYPE is up 200% in the past year, so they’re probably trying to strike while iron hot

Bitwise first filed for the product in September 2025. A month later, 21Shares followed suit and made a similar application.

In March 2026, Grayscale joined the fray, bringing the total number of issuers to three. Both Bitwise and Grayscale plan to include a HYPE staking feature in the future. 

If approved, HYPE will join BTC, Ethereum [ETH], and Solana [SOL] as top crypto assets that enjoy massive interest from treasury firms and ETF investors. 

Will Hyperliquid’s priority fees boost HYPE?

In another development, Hyperliquid is testing a feature that would allow traders who want faster execution to pay a little fee (priority fees) for HIP-3 trades (oil, gold, and other non-crypto assets). 

This would be a welcome update that is already live on most Solana apps like Jupiter [JUP], which grants the most advanced traders and firms priority order execution.

This became a game-changer, reducing the infamous Solana network congestion. In return, the charged priority fees, paid in SOL, are shared with validators. 

For Hyperliquid, however, the priority fees, paid in HYPE, will be used for buyback and token burns.

That said, HYPE token has bounced about 20% in April and could retest the recent high of $43 and eye the $50 psychological level. 

However, the broader structure still depends on the $35 support zone. Even if HYPE sees a short-term pullback, a bounce from this zone could keep the path toward $43 and $50 intact.

Unless the inflows improve marginally, the slowing trading activity could cause HYPE to rally and stall at the $43 or $50 level. 

Final Summary

• Bitwise updated its spot HYPE ETF filing, adding a sticker and fees, suggesting it could debut soon, according to Bloomberg’s Balchunas. 
• Hyperliquid is testing priority fees for faster execution for HIP-3 trades, and the revenue will help drive HYPE buybacks

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Author: Benjamin Njiri