Bitwise will use part of the Hyperliquid ETF management fee to increase holdings of HYPE tokens

Odaily Odaily reports that Bitwise Asset Management has announced that it will allocate 10% of the management fee revenue from its BHYP Hyperliquid ETF to hold Hyperliquid's native token HYPE on the company's balance sheet. The related HYPE holdings will also be staked.

Bitwise stated that Hyperliquid operates a "community-first" model, where approximately 99% of its on-chain revenue is used to buy back and burn HYPE tokens. Therefore, the company has decided to hold HYPE simultaneously. Bitwise's Hyperliquid ETF (ticker: BHYP) was listed on the New York Stock Exchange last Friday, offering investors exposure to Hyperliquid and staking yields. (The Block)