Financial Giant Reveals That Proceeds from Its Altcoin ETF Will Be Used to Add Altcoins to Its Own Treasury

Crypto asset management company Bitwise has announced a notable new step for its Hyperliquid-focused ETF product. The company stated that 10% of the management fees earned from the Bitwise Hyperliquid ETF (BHYP) will be used to directly purchase HYPE tokens and hold them on the company’s balance sheet.

In a statement, Bitwise argued that the Hyperliquid ecosystem is “community-driven.” The company stated that approximately 99% of the Hyperliquid network’s revenue is used for HYPE token buybacks and burning, describing this as a unique model aimed at sharing the protocol’s success with the community.

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The statement reads, “Hyperliquid was built differently from the start. It was based on the idea that if the protocol were to become one of the most powerful and disruptive forces in the financial world, HYPE holders should be a big part of it.”

Bitwise also announced that HYPE tokens purchased must be held for at least 12 months.

*This is not investment advice.

Continue Reading: Financial Giant Reveals That Proceeds from Its Altcoin ETF Will Be Used to Add Altcoins to Its Own Treasury