**BITWISE CHANGES OPINION ON HYPERLIQUID PRODUCT**

Directive: **$BHYR**

Transaction fee: 0.67% (or 67 bps)

Listed exchange: NYSE Arca

**Product characteristics**

This product provides direct exposure to Hyperliquid, not derivatives.

The intrinsic value is calculated based on the valuation documents from CF Benchmarks.

**Storage location**

Assets will be held in bulk storage with bank-equivalent quality in Anchorage.

Creation and redemption occur at a level of 10,000 units held.

Accumulating cryptocurrency is also a secondary goal, rather than a profit-generating feature.

**Official detailed information**

This is just an example of how a serious ETF listing request might look as it moves toward its final destination.

$BTC $BNB $ETH

$ACE , $BTC .