Bitwise buys $20M in HYPE

Bitwise, the issuer of the Hyperliquid (HYPE) spot ETF, purchased $20 million worth of HYPE in a single day, Arkham (ARKM) reported. Last week, Bitwise's HYPE spot ETF, BHYP, acquired a total of $41.8 million in HYPE. The firm is currently staking $55 million worth of the token. Arkham also noted that the return from purchasing BHYP at its launch two weeks ago has surpassed the S&P 500's performance over the last two years.