Bitwise BHYP Resumes $10.5 Million Hyperliquid Purchase

Bitwise BHYP customer funds resumed trading on the 4th with a $10.5 million purchase of Hyperliquid (HYPE). This marks the largest daily purchase since August 27, following a four-day pause in buying. Arkham reported that Bitwise BHYP customers, who had not purchased Hyperliquid for four consecutive days, bought $10.5 million worth on the 4th. Since the product launch, Bitwise has accumulated a total of $166.3 million in Hyperliquid purchases. This transaction is significant as it highlights the resumption of Hyperliquid purchases by Bitwise BHYP customers and the daily purchase volume. Although on-chain flows related to BHYP have been observed previously, it is difficult to determine the scale of product setup and redemption based solely on individual purchases or wallet movements. There is also evidence that a Bitwise-associated wallet delegated an additional 188,790 Hyperliquid, with the collateral value of that wallet reported at $7.489 million. Furthermore, a transaction was observed where Bitwise purchased 28,085.8 Hyperliquid and transferred them to the BHYP wallet, with a transaction size of $1.52 million. Hyperliquid is linked to on-chain derivative trading projects, and the resumption of BHYP purchases is a confirmed case of renewed on-chain buying flow related to Hyperliquid ETFs.