Bitwise launches Hyperliquid Staking ETP

Product aims to provide exposure to HYPE, the native token of Hyperliquid blockchain platform, including potential staking rewards
Hyperliquid is growing platform offering on-chain derivatives trading, designed to combine exchange-like functionality with on-chain transparency
Product is Bitwise’s seventh institutional-grade staking ETP as investor interest in staking-enabled crypto ETPs continues

Bitwise today announces the launch of the Bitwise Hyperliquid Staking ETP (Ticker BHYP; ISIN DE000A4ARTJ5) on Deutsche Börse Xetra. The product seeks to provide exchange-traded exposure to HYPE, the native token of the Hyperliquid network, tracking the Kaiko HYPE Reference Rate LDNLF index. In addition to price exposure, the ETP is designed to capture staking-related returns generated on the platform, allowing investors to participate in potential yield without having to manage wallets, private keys, or on-chain staking themselves.

Hyperliquid is a blockchain-based trading platform enabling trading of derivatives including perpetual futures. It combines the speed and user experience of traditional exchanges with the transparency of blockchain infrastructure. Hyperliquid operates with a fully on-chain order book and execution system, meaning trades are recorded and verifiable on the network.

The platform has gained traction over the past year, with trading volumes and user activity increasing, reflecting broader demand for more transparent and efficient alternatives to centralized trading venues. For traditional investors, Hyperliquid represents an emerging segment of digital asset infrastructure that brings exchange-like functionality onto blockchain rails.

Bradley Duke, Managing Director and Head of Europe at Bitwise, said: The Bitwise Hyperliquid Staking ETP is a timely addition to our growing suite of European staking ETPs. Hyperliquid has emerged as a notable on-chain trading venue, particularly in derivatives, combining high performance with transparency. Its fully on-chain order book and execution model differentiate it not only from traditional exchanges, but also from other crypto platforms. For investors, this provides exposure to an evolving segment of blockchain-based market infrastructure through a familiar exchange-traded structure. Investors may also receive potential staking-related returns without needing to manage the technical processes themselves

BHYP, issued by Bitwise Europe GmbH in Germany, is the seventh product Bitwise has launched as part of its European Total Return product suite, reflecting the company's ongoing efforts to expand access to index-linked staking products.

BHYP is fully backed by HYPE tokens held in cold storage. Potential staking rewards, if earned, accrue daily and are reflected in the cryptocurrency entitlement of each ETP unit. The Kaiko HYPE Reference Rate LDNLF index enables investors to track performance net fees. It can be bought and sold via a regular brokerage account, without the need for a crypto wallet.

Staking is a way to generate additional returns for token holders on a blockchain network by locking up their cryptocurrencies for a period of time. This allows them to help validate transactions on the network, which contributes to its security and reliability. In return, they earn additional tokens. Unlike dividends, which come from company profits, staking rewards compensate holders for performing an active role in maintaining the blockchain.

Key Product Details

ETP Name	Bitwise Hyperliquid Staking ETP
Primary Ticker	BHYP
ISIN / WKN	DE000A4ARTJ5 / A4ARTJ
Index Benchmark	HYPE Reference Rate LDNLF
Target NET Staking Reward*	1.00%
TER	0.85% p.a.
Issuer	Bitwise Europe GmbH
Domicile	Germany

* The Net Staking Reward represents the expected average staking return accruing to the ETP after deduction of the Staking Service Fee but before the annual management fee (TER 0.85% p.a.) is applied. The issuer retains 33% of the total staking rewards generated as a Staking Service Fee. This fee is used to cover the operational costs of maintaining the ETP's staking infrastructure, including charges from staking service providers, and to support the ongoing management of the staking process. Rewards are credited to the ETP on a daily basis and reinvested automatically, which increases the cryptocurrency entitlement per ETP unit over time. The staking rate may vary depending on network conditions, reward levels, and overall market dynamics. Disclaimer: The stated staking reward is not a guarantee of future returns. Actual outcomes can differ due to factors such as protocol rules, validator participation, market volatility, network performance, usage, and validator transaction fees. Staking involves risks, including the potential loss of staked assets and accrued rewards in the event of slashing, penalties, smart contract vulnerabilities, protocol exploits, or other operational issues. More information available at www.bitwiseinvestments.eu/products. An overview of the products mentioned is available here: Bitwise Product List

Warning: Risks of Crypto ETPs

Investments in crypto-linked products and crypto assets involve high risks. The capital invested is at risk, and losses up to the full amount invested are possible. Investors should note that investing in crypto assets involves significant risks, including:

Volatility risk: The prices of crypto assets and exchange-traded crypto products (ETPs) may be subject to significant fluctuations.
Liquidity risk: Market depth and trading volumes may vary and affect the execution of transactions.
Custody risk: Despite being held with specialized and regulated custodians, digital assets may remain vulnerable to cyberattacks and technical disruptions.
Regulatory risk: The treatment of crypto-assets is subject to evolving regulatory frameworks.
Market risk: Broad market movements can significantly impact the value of the ETP.

This press release is for informational purposes only and does not constitute investment advice, a personal recommendation, or an invitation to buy or sell any financial instrument. Potential investors should seek independent advice and carefully review the relevant information in the respective bond terms and conditions, the relevant Key Information Document, and the accompanying base prospectus, particularly the risk factors. The ETPs issued by Bitwise Europe GmbH are intended for investors with experience in dealing with cryptocurrencies and may be difficult to understand. The relevant documents are available at https://bitwiseinvestments.eu/resources/#Documents.

The base prospectus has been approved by the German Federal Financial Supervisory Authority (BaFin). Such approval should not be construed as an endorsement of the quality of the securities. Potential investors should read the base prospectus before making an investment decision to fully understand the potential risks and opportunities of an investment. Past performance is not a reliable indicator of future results. The market price of ETPs may fluctuate; they do not offer a fixed income and may not exactly track the performance of the underlying cryptocurrency. Diversification does not guarantee profits or protect against losses.

In the United Kingdom and France: This press release is directed solely at persons who are investment professionals. It must not be acted upon or relied upon by any other person, including retail clients and the general public. The BHYP ETP is not available to retail clients in the United Kingdom and France.

About Bitwise

Bitwise is one of the world’s leading crypto specialist asset managers. Thousands of financial advisors, family offices, and institutional investors across the globe have partnered with us to understand and access the opportunities in crypto. Since 2017, Bitwise has established a track record of excellence managing a broad suite of delta-one, index and active solutions across ETPs, ETFs, separately managed accounts, private funds, and hedge fund strategies, spanning both the U.S. and Europe.

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An investment in an ETP backed by one or more cryptocurrencies, such as those issued by BEU, is dependent on the performance of the underlying cryptocurrency, less costs, but it is not expected to match the performance of the underlying asset precisely. Investing in ETPs also involves numerous risks including general market risks relating to underlying, adverse price movements, currency, liquidity, operational, legal and regulatory risks and investors should be prepared to lose some or all of the amount invested.

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Cryptocurrencies are highly volatile and are known for their extreme and rapid fluctuations in prices. While there may be potential for significant gains, you are at risk of losing part or all of your entire capital invested. The price of cryptocurrencies can fluctuate widely and, for example, may be impacted by global and regional political, economic or financial events, regulatory events or statements by regulators, investment trading, hedging or other activities by a wide range of market participants, forks in underlying protocols, disruptions to the infrastructure or means by which crypto assets are produced, distributed, stored and traded. Characteristics of cryptocurrencies and divergence of applicable regulatory standards create the potential for market abuse. The price of cryptocurrencies may also change due to shifting investor confidence in future outlook of the asset class.

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