Bitwise BHYP becomes largest HYPE ETF with $166 million

The Bitwise Hyperliquid ETF, known as BHYP, has grown into the world’s largest HYPE ETF. Addresses linked to the fund now hold approximately $166.3 million in HYPE, according to data from blockchain analytics platform Arkham. On Friday, the fund bought an additional $10.5 million in HYPE, its largest one-day purchase in more than a week.

In short:

• Bitwise’s BHYP is now the largest HYPE ETF, with $166.3 million in tracked positions.
• On Friday, the fund bought $10.5 million in HYPE, after four consecutive days without purchases.
• HYPE is currently trading at $88.81, up 4.0% over the past 24 hours.

Largest purchase in more than a week

Friday’s purchase is BHYP’s largest one-day buy since 27 August, when the fund bought $23.2 million in HYPE. The fact that the fund had made no purchases for four days before stepping back in makes the size of the purchase all the more striking.

Institutional interest in Hyperliquid ETFs is visibly growing. BHYP is now climbing to the top within that space as the largest provider based on tracked positions.

HYPE rises with institutional demand

At the time of writing, HYPE is trading at $88.81, representing a rise of 4.0% over the past 24 hours. Arkham shows that, alongside HYPE, Bitwise also holds substantial positions in Bitcoin, Solana and Ethereum.

According to Arkham, Bitwise’s total portfolio amounts to more than $5.4 billion. Within it, the Hyperliquid staking position stands at $139.5 million, while the HYPE position via BHYP stands at $23.3 million in the data displayed, separate from the $166.3 million in tracked positions held through the ETF.