Bitwise Allocates 10% of Hyperliquid ETF Management Fees to Support HYPE

Bitwise has announced via a tweet that it will allocate 10% of the management fees from its Hyperliquid ETF ($BHYP) to hold HYPE on its balance sheet. According to ChainCatcher, this move is intended to support the development of the Hyperliquid ecosystem. Bitwise emphasized that Hyperliquid operates with a community-first approach, where 99% of blockchain revenue is used for the buyback and burning of HYPE. The company believes that if the protocol succeeds, the community should also benefit. Bitwise's decision to hold HYPE aligns with this philosophy.