Bitwise HYPE ETF Resumes Accumulation After Four-Day Hiatus

The recent transaction brings the total tracked accumulation for Bitwise-linked wallets to an estimated $166.3 million since the product’s debut on NYSE Arca in May. While Arkham identifies BHYP as the largest HYPE ETF by market value, these figures remain third-party estimates. Bitwise has not officially confirmed the specific accumulation total, and the fund’s internal operations—such as share creation, liquidity management, and custody movements—can often mirror direct purchases on blockchain ledgers.

Unlike protocol-driven buybacks performed by Hyperliquid using platform fee revenue, BHYP operates as a Delaware statutory trust designed to provide regulated exposure to the asset. The fund utilizes Anchorage Digital Bank for custody and maintains a strategy to stake roughly 70% of its underlying assets. Because exchange-traded products manage capital through authorized participants, the $10.5 million inflow reflects institutional demand dynamics that are distinct from the protocol's own automated buyback mechanisms or Bitwise’s separate corporate pledge to hold HYPE using management fees. Investors awaiting definitive confirmation of these flows will need to look to upcoming SEC filings, as blockchain data provides immediate visibility but lacks the audited accounting verification of official fund disclosures.