Bitwise to use 10% of BHYP ETF fees for HYPE token buybacks

Bitwise has announced a plan to use 10% of the management fees from its Hyperliquid ETF (BHYP) for HYPE token buybacks. The firm explained that Hyperliquid has a community-focused structure that uses 99% of its blockchain revenue for HYPE buybacks and burns. Bitwise described this as a model where the protocol's success directly translates to the community's success. The company added that it shares the philosophy that HYPE holders should be the core beneficiaries if Hyperliquid grows into a powerful platform within the financial industry, and confirmed that Bitwise itself will also be purchasing HYPE.