Hyperliquid ETFs Accumulate $122M, Stake 70% at 1.2% Yield
BHYP•The Bitwise Hyperliquid ETF (BHYP) and a companion fund have amassed $122 million in HYPE positions and staked 70% of assets. The ETF reports a 1.2% net staking yield while HYPE surged 160% YTD and benefits from a $1 billion, 97%-funded buyback mechanism.
1. ETF Launch and Asset Growth
The Bitwise Hyperliquid ETF (BHYP), launched this month alongside the 21Shares Hyperliquid ETF (THYP), has collectively accumulated $122 million in HYPE token positions with expense ratios of 0.34% and 0.30%, respectively.
2. Staking Strategy and Yield
BHYP stakes roughly 70% of its assets, generating a net staking reward rate of 1.2%, while THYP stakes about 66% at a net rate of 0.49%, enabling investors to earn yield through protocol validation.
3. HYPE Token Performance and Market Position
The HYPE token has rallied approximately 160% year-to-date to an all-time high, elevating its market capitalization to $17 billion and fully diluted valuation to $63 billion, ranking it among the top non-stablecoin crypto assets.
4. Buyback Mechanism and Fee Model
Hyperliquid allocates 97% of protocol fees to an Assistance Fund that continuously purchases HYPE on the open market, with over $1 billion worth of tokens repurchased to bolster token value.
