CME and NYSE seek Hyperliquid oversight as Bitwise launches BHYP ETF, putting HYPE price and regulation in focus.
HYPE price moved into focus after CME and NYSE urged U.S. officials to regulate Hyperliquid.
The calls came as Bitwise launched the Bitwise Hyperliquid ETF, known as BHYP, on the NYSE.
The fund gives investors exposure to HYPE, the token linked to Hyperliquid. The timing placed both regulation and market access at the center of the debate.
CME and NYSE Push for Hyperliquid Regulation
CME and NYSE have urged U.S. officials to regulate Hyperliquid, according to Bloomberg.
They raised concerns about market manipulation on the decentralized trading platform. They also warned about possible sanctions evasion.
[ ZOOMER ]
CME AND NYSE ARE PUSHING THE US TO REGULATE HYPERLIQUID, DUE TO CONCERNS ABOUT MARKET MANIPULATION AND SANCTIONS EVASION: BBG
— zoomer (@zoomerfied) May 15, 2026
The exchanges shared their concerns with the CFTC and officials on Capitol Hill. They said Hyperliquid’s structure could allow unfair trading activity.
They also pointed to risks from state-linked actors. According to the report, the exchanges also raised concerns about global oil prices.
They said Hyperliquid could affect price discovery during closed traditional market hours. This has added focus to its growing role in derivatives trading.
HYPE Price in Focus After BHYP ETF Launch
HYPE price is now drawing attention after Bitwise launched BHYP on the NYSE.
The Bitwise Hyperliquid ETF began trading on May 15, 2026. It offers investors exposure to Hyperliquid’s native token.
In a recent press release, Bitwise said BHYP is among the first U.S. spot Hyperliquid ETPs and the first with in-house staking.
The firm plans to stake the fund’s HYPE holdings through Bitwise Onchain Solutions.
The sponsor fee is 0.34%, according to Bitwise. However, the fee is set at 0% for the first month. This waiver applies to the fund’s first $500 million in assets.
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Hyperliquid Growth Draws Wider Market Attention
Hyperliquid is a Layer 1 blockchain built for Onchain trading and finance. It is best known for its perpetual futures exchange.
The platform also supports spot trading, lending, borrowing, and smart contracts.
Bitwise said Hyperliquid handled $2.9 trillion in trading volume in 2025. That marked growth of more than 400% from the prior year.
The firm also said Hyperliquid holds about 60% of global Onchain derivatives open interest.
Matt Hougan, chief investment officer at Bitwise, commented on the platform’s market role.
“Hyperliquid has emerged as one of the most compelling investment opportunities in crypto today,” he said. Bitwise also said HYPE has a market cap above $11 billion.
