Bitwise to Direct 10% of BHYP ETF Fees Toward Holding HYPE Tokens

Bitwise Asset Management said Monday it will use part of the management fees from its newly launched Bitwise Hyperliquid ETF (BHYP) to build a position in Hyperliquid's native token, HYPE, on its corporate balance sheet. In a post on X, the firm said it plans to allocate 10% of BHYP's management fee to purchase and hold HYPE. Bitwise highlighted Hyperliquid's community-focused design, noting that "approximately 99% of blockchain revenue is used to repurchase and burn HYPE tokens." The firm added that it will also host a HYPE conference. BHYP debuted Friday on the New York Stock Exchange and has shown strong early performance, according to CoinDesk. The ETF is designed to give investors indirect exposure to HYPE-related activity and the ability to earn staking rewards. Hyperliquid has grown into one of the largest on-chain trading venues, especially for perpetual futures. Data from The Block show the network generated nearly 40% of blockchain fees last week, versus roughly 14% for Ethereum and about 10% for Solana. HYPE has nearly doubled in 2026, rising from around $22 at the start of the year to above $44 today. The Block reports that, excluding stablecoins, HYPE's market capitalization now tops $10.6 billion, ranking it among the world's top ten cryptocurrencies. Bitwise was the first asset manager to file for a U.S. spot ETF tied to HYPE last year, ahead of 21Shares and Grayscale. 21Shares was first to market with its THYP ETF, which listed on May 12 and has attracted about $10.5 million in cumulative net inflows, according to SoSoValue. Trading volume for BHYP has not been disclosed.