Anchorage Digital ⚓️

$BHYP - Now trading on NYSE. Hyperliquid’s rise over the past few years is the stuff of legend. - $4.4 trillion in cumulative volume for perps (DeFiLlama as of 5/14/26) - Ability to process 200K orders/second - HYPE is the 10th largest crypto asset less than two years after being launched, with a market cap of $11 billion (CoinMarketCap as of 5/14/26) - Supports more than 130 perpetual futures markets, including for equities, commodities, and FX (Artemis as of 5/14/26) - Protocol built to return 99% of perp revenues via HYPE buybacks/token burns BHYP gives investors exposure to one of the most disruptive and fastest-growing projects in crypto. We see big things ahead for Hyperliquid. Onward–

Introducing the Bitwise Hyperliquid ETF $BHYP—offering 100% direct exposure to spot HYPE. And the first to use in-house staking, rather than a third-party staking provider. Starts trading tomorrow. Why Hyperliquid? We believe Hyperliquid is one of the most important onchain trading platforms in the world. When geopolitical conflict broke out in the Middle East on a Sunday morning and traditional markets were closed, institutions didn't wait until Monday. They turned to Hyperliquid. It's easy to see why. Hyperliquid commands approximately 60% of all onchain perpetual DEX open interest globally (DeFi Llama as of May 13, 2026), processes 200,000 orders per second (Chainspect as of May 13, 2026), and has built a track record of reliability when it matters most. It has achieved remarkable adoption in a short time, entirely without venture capital—and we believe it's poised to be one of the biggest winners as capital markets move onchain. We're thrilled to give investors a convenient, low-cost* way to participate in that opportunity, with staking rewards built in.** Onward.