Bitwise Stakes $114 Million in HYPE on Hyperliquid as Spot ETF Doubles Down

HYPE-2.46%
According to Lookonchain, Bitwise staked 1.775 million HYPE tokens (worth $114 million) on Hyperliquid recently, marking one of the firm's largest single additions to its holdings. The asset manager operates the Bitwise Hyperliquid ETF (BHYP), which launched on NYSE Arca on May 15 and directs 10% of its management fees toward buying and staking HYPE, creating a feedback loop where fund growth directly translates into larger onchain accumulation.
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