🌐 Bitwise HYPE ETF adds $10.5m after four-day pause

📊 Bitwise’s Hyperliquid exchange-traded fund resumed accumulating HYPE on Sept. 4 after four days without a tracked purchase. Wallets linked to the fund acquired approximately $10.5 million of the token, according to blockchain intelligence platform Arkham.

🔗 Arkham described BHYP as the “largest HYPE ETF.” That ranking relies on addresses identified by its analysts and the market value of tokens attributed to each product. Bitwise has not issued a matching announcement confirming the $166.3 million figure. The $10.5 million transaction ended the longest recent gap in BHYP-linked accumulation reported by Arkham. However, the movement should not automatically be interpreted as one investor purchasing $10.5 million of fund shares.

📣 Exchange-traded crypto products create and redeem shares through authorized participants. The trust may receive cash or tokens as part of that process, depending on its operating structure. Its HYPE acquisitions can therefore reflect net share creations, liquidity management or settlement activity involving several investors. Blockchain data can identify transfers between labeled addresses. It cannot always reveal the commercial purpose of every transfer. Address ownership may also change, while internal custody movements can resemble purchases unless analysts identify the sending address and transaction route.