This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bhypetf.com/welcome. The Bitwise Hyperliquid ETF (BHYP or the “Fund”) is not suitable for all investors. An investment in BHYP is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BHYP is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. An investment in BHYP is not the same as a direct investment in Hyperliquid (HYPE). Fund Distributor Foreside Fund Services, LLC

This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bhypetf.com/welcome. The Bitwise Hyperliquid ETF (BHYP or the “Fund”) is not suitable for all investors. An investment in BHYP is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BHYP is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. An investment in BHYP is not the same as a direct investment in Hyperliquid (HYPE). Fund Distributor Foreside Fund Services, LLC. *Compared to all HYPE ETFs and ETPs, including spot and other strategies, that are trading in any market worldwide as of June 1, 2026.

This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bhypetf.com/welcome. The Bitwise Hyperliquid ETF (BHYP or the “Fund”) is not suitable for all investors. An investment in BHYP is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BHYP is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. An investment in BHYP is not the same as a direct investment in Hyperliquid (HYPE). Potential staking rewards are earned by the Fund; The Fund intends to distribute its net investment income, including the value of Staking Rewards (net of expenses), to shareholders on a periodic basis. Rewards are not guaranteed, are subject to change, and should not be taken as an indication of the Fund’s performance. Marketing Agent Foreside Fund Services, LLC.

Risks and Important Information Bitwise Investment Manager and its affiliates (collectively, “Bitwise”) are providing this information to qualified investors for informational purposes only in relation to a potential opportunity to subscribe for shares (“Shares”) in the Bitwise Crypto Carry Fund (the “Fund”). This is neither an offer to sell nor a solicitation for an offer to buy Shares in the Fund. Any offer to sell or solicitation of an offer to buy Shares will be made solely through the Fund’s definitive offering documents, identified as such, with respect to the Fund in compliance with the terms of all applicable securities and other laws. Certain of the Bitwise investment products may be subject to the extreme risks associated with investing in crypto assets. Because crypto assets are a new technological innovation with a limited history, future regulatory actions or policies may limit the ability to sell, exchange or use a crypto asset. Crypto assets may decline in popularity, acceptance or use, which may impact their price. There is no guarantee or assurance that an investor’s investment objectives will be met through an investment into any Bitwise investment product, and an investor may lose all or a portion of the investment. Investors into any Bitwise investment product should be willing to accept a high degree of volatility in the price of the investment product and the possibility of significant losses. Any investment in any Bitwise investment product involves a substantial degree of risk. The Shares will be offered and sold under the exemption provided by Section 4(a)(2) of the Securities Act of 1933 and Rule 506 of Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made. The Shares are not registered under the Securities Act of 1933 (the “Securities Act”), the Investment Company Act of 1940 (the “Investment Company Act”), or any state securities commission or any other regulatory body. There is no guarantee that any Fund will meet its investment objective. For qualified investors only.

*All figures as of 4 p.m. ET on 5/26/26. ** Minimum holding period will be 12 months. This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit http:// bhypetf.com/welcome. The Bitwise Hyperliquid ETF (BHYP or the “Fund”) is not suitable for all investors. An investment in BHYP is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BHYP is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act. An investment in BHYP is not the same as a direct investment in Hyperliquid (HYPE). Potential staking rewards are earned by the Fund; The Fund intends to distribute its net investment income, including the value of Staking Rewards (net of expenses), to shareholders on a periodic basis. Rewards are not guaranteed, are subject to change, and should not be taken as an indication of the Fund’s performance. Marketing Agent Foreside Fund Services, LLC.