#ETF与衍生品 Bitwise's recent move is quite interesting. The revised document for Hyperliquid ETF has already been submitted, with the fee set at 0.67%, and the stock ticker BHYP has also been finalized, essentially finalizing the last details for listing.

In recent years, the ETF sector has indeed become competitive, from spot BTC to various derivatives, with institutional strategies becoming more sophisticated. A 0.67% fee is still acceptable for this type of product, after all, the level of professionalism varies.

The key is that Hyperliquid itself is very popular, backed by strong community support. If it can actually go public, it’s likely to become a new choice for many institutions to enter the market. Derivatives carry higher risks than spot, but that’s also what attracts institutions to get involved.

Recently, on-chain activity has been so frequent, it feels like everyone is racing for position. Whether they can outperform this wave of market movement depends on execution.