From Startup Fortune · · 1m 20s
Hyperliquid's HYPE token hits $98 high as Wall Street buys in
Wall Street ETF buys Hyperliquid's HYPE token for $10.5m in one day.
In brief
Wall Street ETF buys Hyperliquid's HYPE token for $10.5m in one day. Hyperliquid's HYPE token reached a record $98 price as Bitwise's ETF bought $10.5m worth in one session. Originally reported by Startup Fortune.
HYPE token hits $98 high
Hyperliquid's HYPE token set a record near $89.60 in early September and later extended its all-time high to roughly $98 on September 23.
Open interest reaches $18 billion
By late September, Hyperliquid's open interest had reached a record $18 billion.
Bitwise ETF buys $10.5m in HYPE
Bitwise's spot Hyperliquid ETF, ticker BHYP, resumed accumulating HYPE on Friday, September 4, after a four-day pause, with addresses tied to the fund adding $10.5 million worth in a single session.
Bitwise's HYPE buying program
Bitwise directs 10% of the management fees it earns from BHYP straight into buying more HYPE for its own balance sheet.
HYPE token revenue drives value
Hyperliquid's first AQAv2 payout, about $14.5 million in USDC yield routed through Coinbase and Circle on October 3, now funds automatic HYPE buybacks.
Wall Street ETF adds to position
BHYP began trading on May 15 and is the biggest fund of its kind by tracked HYPE purchases.
The essence
Hyperliquid's HYPE token reached a record $98 price as Bitwise's ETF bought $10.5m worth in one session.
