Bitwise Bets Big On Hyperliquid, Allocates 10% ETF Fee To HYPE Treasury

• Crypto asset manager Bitwise revealed that it’s building a HYPE treasury using 10% of the fees generated by its Hyperliquid ETF.

Bitwise, a leading provider of cryptocurrency index funds, is doubling down on Hyperliquid (HYPE). After launching its spot Hyperliquid Exchange-Traded Fund (ETF) on the New York Stock Exchange (NYSE), the company also announced it will build a digital asset treasury based on the investment product’s underlying token.

Bitwise’s Hyperliquid Treasury

On Monday, the crypto asset manager revealed that it will allocate 10% of the Bitwise Hyperliquid ETF (BHYP) fees to holding HYPE on its balance sheet. The company notably charges a 0.34% annual sponsor or management fee for the fund, but has waived the entire fee for its first month of operations up to $500 million in assets, whichever comes first.

Bitwise believes Hyperliquid will become “one of the most powerful and disruptive forces in finance.” Hence, it’s looking to capitalize on the opportunity to acquire the token at lower entry barriers.

BHYP stands out from conventional spot crypto funds by optimizing Hyperliquid’s proof-of-stake mechanism. It allows Bitwise to stake the ETF’s underlying HYPE assets through Bitwise Onchain Solutions, the business’s in-house staking division, to earn passive yield without partnering with or outsourcing the activity to an external validator service.

HYPE Built Differently

Bitwise highlighted that Hyperliquid is built differently, as 99% of the blockchain’s revenue cycles back to buying and burning its own token. The model enables the Layer-1 (L1) network to maintain a sustainable deflationary mechanism that gradually generates more value for its token and rewards long-term holders. Additionally, the structure promotes a healthy circular economy through cyclical transactions.

The company highlighted that the chain’s community-based model is grounded in the idea: “If the protocol succeeds, the community succeeds.” It’s confident that the design will be an essential factor in its exponential growth.

Hyperliquid Performance

Bitwise’s Hyperliquid treasury announcement triggered more than a 9% rally, from a $44.33 low to a $48.36 high, for HYPE in the last 24 hours. Meanwhile, transaction volume also peaked by over $800 million during the same period.

HYPE remains roughly 18% to 25% below its all-time high of $59.39 eight months ago. Nonetheless, not only Bitwise is optimistic about its potential.

In December 2025, Cantor Fitzgerald, a global financial services firm, predicted that Hyperliquid is preparing for explosive growth. The company estimates it’s building momentum towards a $200 billion valuation, a significant leap from its $11.28 billion to $12.3 billion market cap.

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