Bitwise Hyperliquid ETF (BHYP) belongs to the Cryptocurrency category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BHYP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to BHYP
Among 118 ETFs in the Cryptocurrency category with expense-ratio data, the lowest-cost alternatives shown here go as low as 0.14%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Morgan Stanley Bitcoin Trust | 0.14% | 376.59M | Apr 2026 | BHYP vs MSBT | |
| Grayscale Bitcoin Mini Trust ETF | 0.15% | 3.69B | Jul 2024 | BHYP vs BTC | |
| Grayscale Ethereum Staking Mini ETF | 0.15% | 1.55B | Jul 2024 | BHYP vs ETH | |
| Franklin Bitcoin ETF | 0.19% | 366.62M | Jan 2024 | BHYP vs EZBC | |
| Franklin Solana ETF | 0.19% | 8.51M | Dec 2025 | BHYP vs SOEZ |
Best Risk-Adjusted Alternatives to BHYP
Among 75 ETFs in the Cryptocurrency category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Grayscale Zcash Trust (ZEC) | 95 | — | Oct 2017 | BHYP vs ZCSH | |
| ProShares Short Bitcoin ETF | 53 | 118.48M | Jun 2022 | BHYP vs BITI | |
| Proshares Ultrashort Bitcoin ETF | 47 | 163.33M | Apr 2024 | BHYP vs SBIT | |
| CoinShares Bitcoin Miners ETF | 45 | 240.40M | Feb 2022 | BHYP vs WGMI | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 41 | — | Jul 2024 | BHYP vs BTCZ |
Top Performing BHYP Alternatives (YTD)
Among 110 ETFs in the Cryptocurrency category with YTD return data, the top-performing alternatives shown here go as high as 37.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| CoinShares Bitcoin Miners ETF | 37.71% | 240.40M | Feb 2022 | BHYP vs WGMI | |
| Proshares Ultrashort Bitcoin ETF | 30.98% | 163.33M | Apr 2024 | BHYP vs SBIT | |
| ProShares UltraShort Ether ETF | 27.90% | 50.89M | Jun 2024 | BHYP vs ETHD | |
| ProShares Short Ether Strategy ETF | 27.84% | 16.28M | Nov 2023 | BHYP vs SETH | |
| T-Rex 2X Inverse Bitcoin Daily Target ETF | 26.37% | — | Jul 2024 | BHYP vs BTCZ |
Lowest Volatility Alternatives to BHYP
BHYP has 96.90% 1-year volatility. There are 118 ETFs in the Cryptocurrency category with lower 1-year volatility, going as low as 1.99%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos Bitcoin Structured Alt Protection ETF - Oc... | 1.99% | — | Oct 2025 | BHYP vs CBOO | |
| Calamos Laddered Bitcoin 90 Series Structured Alt ... | 3.70% | — | Oct 2025 | BHYP vs CBOL | |
| Calamos Bitcoin 90 Series Structured Alt Protectio... | 6.63% | — | Oct 2025 | BHYP vs CBXO | |
| Calamos Bitcoin 80 Series Structured Alt Protectio... | 11.82% | — | Oct 2025 | BHYP vs CBTO | |
| FT Vest Bitcoin Strategy Floor15 ETF - October | 11.86% | 7.63M | Sep 2025 | BHYP vs BFOC |
Lowest Drawdown Alternatives to BHYP
Among 75 ETFs in the Cryptocurrency category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -14.02%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Horizon Kinetics Blockchain Development ETF | -14.02% | 22.87M | Aug 2022 | BHYP vs BCDF | |
| FT Vest Bitcoin Strategy Floor15 ETF - July | -21.27% | 3.45M | Jun 2025 | BHYP vs BFJL | |
| REX Crypto Equity Premium Income ETF | -22.47% | 110.04M | Dec 2024 | BHYP vs CEPI | |
| ProShares Short Bitcoin ETF | -25.28% | 118.48M | Jun 2022 | BHYP vs BITI | |
| Global X Bitcoin Trend Strategy ETF | -26.03% | 1.48M | Mar 2024 | BHYP vs BTRN |
Other ETFs from Bitwise
The 10 most viewed Bitwise ETFs shown here include BITW, BITQ, BITC and span 4 categories. AUM among these funds goes as high as $619M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Bitwise 10 Crypto Index ETF | Cryptocurrency | 3 | -28.62% | 619.02M | Dec 2025 | BHYP vs BITW | |
| Bitwise Crypto Industry Innovators ETF | Blockchain, Technology Equities | 14 | 18.16% | 366.79M | May 2021 | BHYP vs BITQ | |
| Bitwise Bitcoin Strategy Optimum Roll ETF | Cryptocurrency | 3 | 1.83% | 14.63M | Mar 2023 | BHYP vs BITC | |
| Bitwise Ethereum Strategy ETF | Cryptocurrency | 3 | -14.35% | 4.59M | Sep 2023 | BHYP vs AETH | |
| Bitwise COIN Option Income Strategy ETF | Derivative Income | 1 | -22.97% | 19.02M | Apr 2025 | BHYP vs ICOI | |
| Bitwise Funds Trust | Derivative Income | 1 | -30.90% | 8.58M | Apr 2025 | BHYP vs IMST | |
| Bitwise Ethereum ETF | Cryptocurrency | 4 | -36.15% | 195.84M | Jul 2024 | BHYP vs ETHW | |
| Bitwise XRP ETF | Cryptocurrency | — | -39.18% | 311.04M | Nov 2025 | BHYP vs XRP | |
| Bitwise Bitcoin Standard Corporations ETF | Blockchain | 3 | -18.14% | 14.02M | Mar 2025 | BHYP vs OWNB | |
| Bitwise Solana Staking ETF | Cryptocurrency | — | -35.49% | 612.87M | Oct 2025 | BHYP vs BSOL |
Often Compared With BHYP
Investors most often compare BHYP with THYP, EZET, EZPZ. These 3 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| 21Shares Hyperliquid ETF | Cryptocurrency | — | — | 61.49M | — | BHYP vs THYP | |
| Franklin Ethereum ETF | Cryptocurrency | 4 | -36.10% | 37.67M | Jul 2024 | BHYP vs EZET | |
| Franklin Crypto Index ETF | Cryptocurrency | 2 | -28.32% | 12.73M | Feb 2025 | BHYP vs EZPZ |
Compare BHYP with Any Fund or Stock
Compare BHYP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair BHYP with funds that move differently
Bitwise Hyperliquid ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BHYP.
Explore BHYP Diversifiers