Bitwise has staked 1.775 million HYPE tokens, worth about $114 million, on the Hyperliquid exchange, reinforcing its position since launching the Bitwise Hyperliquid ETF (BHYP) in May. The ETF directs 10% of its fees to buying and staking HYPE, linking fund growth directly to the exchange's revenue rather than token inflation. This strategic move highlights growing institutional interest in Hyperliquid, as other firms like 21shares and Grayscale also compete in the spot HYPE ETF market. Bitwise's large stake signals confidence in Hyperliquid's potential and the expanding market for regulated altcoin ETFs.
Since Hyperliquid's mainnet launch on April 14, traders have burned nearly 22,000 HYPE tokens through priority fees, with weekly burns rising 45-fold recently. The number of distinct payers expanded from 14 to 130, indicating broader adoption. Instit...
Bitcoin and Ethereum showed minimal gains, trading mostly flat, while altcoins such as Solana and XRP outperformed with notable price increases. This pattern indicates a rotation-driven market where investors selectively move capital among tokens rat...
Major cryptocurrencies fell this week as investors favored AI-related stocks, with Dogecoin and Hyperliquid's HYPE dropping about 10%. Bitcoin was more resilient, dipping 5.3% but quickly rebounding from lows near $58,000 due to aggressive buying. Cr...
Hyperliquid, a decentralized perpetual futures exchange, generates about $700 million to $1.2 billion in annualized revenue from $3 billion in collateral, driven by over $4.7 trillion in cumulative trading volume. Launched in 2023 without venture cap...
U.S.-listed altcoin ETFs experienced mostly flat net flows on June 25, with notable outflows concentrated in Solana and Hyperliquid ETFs. Solana's outflows were driven by redemptions in Bitwise’s BSOL fund, while Hyperliquid saw declines in two of it...
