Bitwise's $74M Stake in HYPE Marks New Milestone for Institutional Crypto Adoption
Bitwise's Hyperliquid ETF, trading under the ticker BHYP, has made significant strides in integrating staking into regulated investment products. The fund has now staked approximately $74.9 million worth of $HYPE, the native token of the Hyperliquid protocol.
This move marks a milestone for institutional crypto adoption and sets a precedent for other issuers to handle proof-of-stake assets. By staking the underlying tokens, the fund generates additional yield for investors, potentially enhancing returns beyond simple price appreciation.
According to blockchain tracking platform Onchain Lens, an address associated with BHYP added 188,790 $HYPE worth around $15.19 million to staking just two hours ago. This latest move underscores the fund's active participation in the Hyperliquid network and highlights the evolution of crypto investment vehicles.
The decision to stake $HYPE within a regulated ETF product signals growing institutional interest in proof-of-stake cryptocurrencies beyond established names like Ethereum. It also provides retail investors with indirect exposure to staking rewards without technical overhead, while validating Hyperliquid's role in the DeFi ecosystem.