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Bitwise said it will devote 10% of the management fee from its Bitwise Hyperliquid ETF to holding $HYPE on its balance sheet, adding a new treasury component to one of the first US-listed products tied to the Hyperliquid ecosystem.
Hyperliquid was built different.
As in, 99% of the blockchain’s revenue is used to buy and burn $HYPE. It's a community-first model based on this idea: If the protocol succeeds, the community succeeds.
In that spirit, we’re pleased to announce that Bitwise will be devoting 10%… pic.twitter.com/gOnaHkZRni
Advertisement— Bitwise (@Bitwise) May 18, 2026
The move comes after Hyperliquid ETFs began trading in the US last week, starting with the 21Shares Hyperliquid ETF on Nasdaq and followed by the Bitwise Hyperliquid ETF on the NYSE. The two $HYPE ETFs have accumulated more than $5.6 million in total inflows, extending early institutional demand for exposure to the token.
Bitwise launched its Hyperliquid ETF under the ticker BHYP on May 15, with a 0.34% sponsor fee and a temporary fee waiver for the first month on the fund’s first $500 million in assets.
The launch followed 21Shares’ Hyperliquid ETF, which debuted on Nasdaq earlier in the week. The 21Shares product drew about $1.2 million in net inflows and $1.8 million in trading volume on its first day.
Bitwise’s decision to hold $HYPE from part of its management fee ties the issuer more directly to Hyperliquid’s token model. Hyperliquid routes roughly 99% of protocol fees through its Assistance Fund to repurchase $HYPE creating a revenue-linked structure that has helped define the token’s investment case.
Hyperliquid has expanded from a perpetual futures venue into a broader onchain trading ecosystem. Bitwise said the network supports perpetual futures, spot trading, borrowing, lending, and an Ethereum-compatible smart contract environment through HyperEVM.
$HYPE was trading near $45.45 at press time, with a market capitalization of about $11 billion, according to CoinGecko data.
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