Bitwise’s BHYP Stakes $74.9M In HYPE: A Milestone For Institutional Crypto Adoption

Bitwise’s spot Hyperliquid ETF, trading under the ticker BHYP, has now staked approximately $74.9 million worth of HYPE, the native token of the Hyperliquid protocol. This marks a significant step in integrating staking into regulated investment products, as on-chain data confirms the fund’s ongoing accumulation and staking activity.

On-Chain Data Reveals Recent Staking Activity

According to blockchain tracking platform Onchain Lens, an address associated with BHYP, beginning with 0x6183, added 188,790 HYPE worth around $15.19 million to staking just two hours ago. This latest move brings the total staked amount to $74.9 million, underscoring the fund’s active participation in the Hyperliquid network.

Staking in a spot ETF context is relatively new, and Bitwise’s approach may set a precedent for how other issuers handle proof-of-stake assets. By staking the underlying tokens, the fund generates additional yield for investors, potentially enhancing returns beyond simple price appreciation.

Why This Matters for Investors and the Crypto Market

The decision to stake HYPE within a regulated ETF product signals growing institutional interest in proof-of-stake cryptocurrencies beyond the more established names like Ethereum. It also highlights the evolution of crypto investment vehicles, as issuers seek to maximize utility and income generation for their clients.