Bitwise’s HYPE ETF clients add $5M despite token 14% slide

Bitwise’s ETF clients spent $5 million plus on Hyperliquid’s HYPE token last week and have not sold any of it since July. HYPE’s price has dropped by more than 14% over the last 30 days. However, it remains up by 118% YTD.

According to Arkham data, Bitwise is one of the biggest HYPE ETF issuers and hasn’t sold a single token since the end of July. All transactions noted in August were purchases. The information comes from Arkham Explorer and is not an official report from Bitwise, meaning it only conveys the on-chain transactions tied to the company and its investors.

While the amount of money involved is small relative to the total industry, it is the trend that interested Arkham. A firm that takes in tokens continually sends a different message than one that considers outflows against inflows.

A May launch on the NYSE

The fund behind the U.S. purchase is the Bitwise Hyperliquid ETF, which trades under BHYP on the New York Stock Exchange. Bitwise unveiled the fund on May 14, 2026, and it started trading the next day. According to the firm, it is one of the first spot Hyperliquid products available in the U.S. and the first to use its own operations with its staking capability, Bitwise Onchain Solutions.

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