Bitwise will use part of Hyperliquid ETF management fees to increase HYPE token holdings

Odaily Odaily Planet Daily News Bitwise Asset Management announced that it will allocate 10% of the management fee income from its BHYP Hyperliquid ETF to hold Hyperliquid's native token, HYPE, on its corporate balance sheet. The related HYPE holdings will also be staked.

Bitwise stated that Hyperliquid adopts a "community-first" model, with approximately 99% of on-chain revenue 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, providing investors with exposure to Hyperliquid and staking yields. (The Block)