HYPE rallies to new ATH with $3B open interest and growing institutional demand
first published 2026-06-16T15:50:44Z
Bitwise purchased 77,097 HYPE worth about $5.18 million via FalconX on June 15, extending its steady accumulation of Hyperliquid’s native token. The firm allocates 10% of BHYP ETF management fees to buy and stake HYPE, while Hyperliquid also uses most trading-fee revenue for HYPE buybacks. BHYP has drawn about $107 million in cumulative net inflows since launch.
AI Analysis
The article reports ongoing ETF-linked buying and staking of HYPE, plus protocol revenue being used for buybacks, which creates direct demand. The amounts are concrete and near-term, making it moderately relevant for traders, though it is still primarily a token accumulation story rather than a broader market event.
Expected Investor Sentiment: Neutral
Potential Market Impact: High
Source Articles
- Bitwise Buys Another 77,097 HYPE Worth $5.18 Million as ETF Buyback Strategy Ramps Up - Bitcoin.com
- Why is Crypto Crashing Today? - Coinpedia
- VanEck’s Sigel rejects MARA BTC buy claims amid AI expansion - Crypto News
- HYPE rallies to new ATH at $76.70 as SpaceX futures fuel Hyperliquid activity - Crypto News
- Hyperliquid open interest surges 32% in a week: Is $80 HYPE next? - Cointelegraph
- CZ Praises Hyperliquid but Warns of Compliance Risks - Coinpedia
