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Bitwise's BHYP ETF stakes 1M+ HYPE tokens, offering direct exposure and yield from on-chain derivatives.

Market News
16 Jun 2026
Crypto Briefing
View Source
Bullish
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Bitwise's Hyperliquid ETF (BHYP) has quickly accumulated over 1 million HYPE tokens, valued at more than $62 million, just two weeks after launching on NYSE Arca. The fund actively stakes about $55 million of these tokens using Bitwise's proprietary infrastructure, generating yield from Hyperliquid's protocol revenue rather than inflation-based rewards. This direct staking approach reduces counterparty risk and offers investors exposure to a fast-growing on-chain derivatives protocol within a regulated ETF structure. Competitors like 21Shares and Grayscale are also entering the space, but Bitwise's in-house staking gives BHYP a unique edge.

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