Bitwise to add HYPE to balance sheet using fees from Hyperliquid ETF
The Block
Bitwise will use 10% of management fees from its new Hyperliquid ETF to purchase and stake the HYPE token.Summary
Bitwise Asset Management has announced that it will allocate 10% of the management fees generated by its newly launched Hyperliquid ETF (BHYP) to acquire and hold the HYPE token on its balance sheet. The firm plans to stake these tokens, mirroring the community-centric model of Hyperliquid, which utilizes a significant portion of its revenue for token buybacks. Hyperliquid has rapidly become a major player in decentralized finance, currently ranking as a top-10 cryptocurrency by market capitalization.
(Source：The Block)