Bitwise files second amendment for Hyperliquid ETF, NYSE Arca listing imminent

Bitwise has filed a second amendment for its Hyperliquid ETF (ticker BHYP) with a 67 basis point fee, and the filing is in its final regulatory stages ahead of a potential NYSE Arca listing. On Polymarket, Bitcoin reaching $100,000 by 2026 sits at 38% YES, up from 30% a week ago.

Market reaction

The Bitcoin $100,000 market has climbed 4 percentage points in the last week. Bitcoin $150,000 is at 10%, up from 8% a week ago. Traders are reading Bitwise’s amendment as a sign of growing institutional interest, which feeds directly into Bitcoin price targets.

Why it matters

This market trades modest volume, with $4,867 in daily face value and $1,776 in actual USDC for the $100K target. It takes $10,824 to move the market by 5 points, which means the order book is relatively thick. The largest recent price move was a 3-point increase, so even small trades are shifting sentiment.

What to watch

At 38¢, a YES share pays $1 if Bitcoin hits $100,000 by December 31, 2026, a 2.63x return. For this bet to work, traders need to believe institutional inflows will accelerate over the next two years. Watch for Grayscale’s competing ETF, any SEC rulings, and moves by BlackRock and Fidelity. Further regulatory updates or ETF approval announcements are the most likely catalysts.

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