Bitwise will match 10% of that $HYPE Management fee up to ETF purchase $HYPE It’s on the balance sheet.
Bitwise Asset Management announced that it will allocate 10% of the management fees of the Bitwise Hyperliquid ETF (NYSE: BHYP) to its holdings. $HYPE It’s on the balance sheet. The company said the move reflects HyperLiquid’s unique tokenomics, with approximately 99% of protocol revenue going toward buybacks through support funds. $HYPE.
“HyperLiquid’s tokens are explicitly designed so that increased trading activity on the HyperLiquid platform directly benefits token holders,” Bitwise Chief Investment Officer Matt Hogan said in a statement. “This has led to historically high returns. We believe this is one of the most exciting assets in crypto.”
$HYPE ETF structure and repurchase signals
BHYP launched on the NYSE on May 15 with a sponsorship fee of 0.34%, with the first month free on the fund’s first $500 million in assets. It is the only U.S.-listed Hyperliquid product that owns stock. $HYPE Through the publisher’s own infrastructure rather than a third party. As reported by crypto.news, $HYPE After its release, the price rebounded towards $46, and since the beginning of 2026, it has recovered by about 65%.
A 10% fee commitment adds a second capital channel. $HYPE Beyond staking. Bitwise will contribute its holdings in the fund through Bitwise Onchain Solutions, and the rewards will be returned to the fund after paying a 15% commission. Adding balance sheet purchases from management fees means an influx of institutional money. $HYPE Through two parallel mechanisms.
Competing with BHYP is 21Shares’ THYP product, which was listed on the Nasdaq earlier in the week and attracted about $1.2 million in inflows on its first day. the two of us together $HYPE Total net inflows into the ETF exceeded $5.6 million.
Why is pricing model important? $HYPE
Hyperliquid’s trading volume will reach $2.9 trillion in 2025, an increase of more than 400% year-on-year, and currently accounts for about 60% of the world’s on-chain derivatives open interest. $HYPEhas a market capitalization of over $11 billion, making it the 10th largest crypto asset by market capitalization.
As documented by crypto.news in an April filing update, Bloomberg ETF analyst Eric Balchunas flagged the addition of the BHYP ticker and fee details as a sign that the fund’s launch was near.
The fee-based buyback pledge directly aligns Bitwise’s incentives with Hyperliquid’s community-first model. Management fees generate a fraction of every dollar. $HYPE This is permanently present on Bitwise’s balance sheet, creating a demand mechanism that scales with the fund’s AUM as ETF inflows increase.
