Bitwise Buys 77,097 HYPE Tokens Worth $5.18M in June 15 Purchase

Bitwise bought 77,097 HYPE tokens, valued at approximately $5.18 million, through FalconX on June 15, according to onchain data from Lookonchain and Arkham. The purchase forms part of the asset manager's commitment to direct 10% of management fees from its spot Hyperliquid ETF (BHYP) toward buying and staking HYPE on its corporate balance sheet. The strategy operates alongside Hyperliquid's own buyback mechanism, which absorbs roughly 97% of the exchange's trading fees to repurchase HYPE tokens.

Bitwise Purchases 77,097 HYPE Tokens via FalconX on June 15

Bitwise executed the 77,097 HYPE purchase through FalconX on June 15, marking a continuation of the firm's accumulation pattern tied to its BHYP ETF fee structure. Bitwise launched BHYP on the New York Stock Exchange in May as one of the first U.S. spot Hyperliquid ETFs to offer in-house staking through its Bitwise Onchain Solutions division. By staking the fund's holdings, Bitwise passes HYPE's approximately 2.25% annual staking yield through to shareholders.

The fund recorded a net inflow of approximately $15.5 million earlier this week, lifting cumulative net inflows to roughly $107 million since launch. The buyback design mirrors Hyperliquid's protocol-level mechanism: nearly 97% of the exchange's trading fees flow into an onchain Assistance Fund that repurchases HYPE, creating programmatic buying pressure from both the protocol and the ETF issuer.

A16z Wallets Accumulate Over $190 Million in HYPE Holdings

Wallets linked to venture firm a16z have become the sixth-largest HYPE holder globally, accumulating more than $190 million of the token over several weeks. Grayscale's rival HYPG fund launched with a 0.29% sponsor fee, pressuring issuers to differentiate on structure and yield rather than cost alone. Bitwise's fee-funded buyback and in-house staking serve as central components of its competitive positioning.

FAQ

What did Bitwise buy on June 15?
Bitwise bought 77,097 HYPE tokens worth approximately $5.18 million through FalconX on June 15, per onchain data from Lookonchain and Arkham.

How does Bitwise's BHYP ETF use management fees?
Bitwise directs 10% of BHYP ETF management fees to buying and staking HYPE on its corporate balance sheet, passing the roughly 2.25% annual staking yield through to shareholders.

What is Hyperliquid's buyback mechanism?
Nearly 97% of Hyperliquid's exchange trading fees flow into an onchain Assistance Fund that repurchases HYPE tokens, creating protocol-level buying pressure alongside Bitwise's ETF-driven purchases.