Overview
- Bitwise-linked wallets resumed buying about $10.5 million of HYPE on Friday, ending a four-day pause in tracked purchases and marking the fund’s largest daily addition since Aug. 27.
- Blockchain intelligence firm Arkham attributes roughly $166.3 million of cumulative HYPE purchases to Bitwise’s BHYP since the fund launched, but that total is an outside estimate rather than an audited fund disclosure.
- Onchain trackers report Hyperliquid’s Assistance Fund bought and burned about 9,730 HYPE in 24 hours and shows lifetime burns near 48.42 million HYPE, a protocol rule that permanently reduces token supply.
- Quarterly 13F filings compiled by Bloomberg’s James Seyffart show 30 institutional investors disclosed about $74.9 million of exposure to U.S.-listed HYPE ETFs as of June 30, with the top five holders making up roughly 70.8% of that total.
- BHYP’s structure differs from holding tokens directly because the trust uses Anchorage for custody, targets roughly 70% of assets for staking, and Bitwise pledged a portion of management fees for corporate HYPE purchases, creating distinct custody, staking and liquidity risks that can affect circulating supply and investor returns.