Bitwise Stakes $114 Million in HYPE on Hyperliquid as Its Spot ETF Doubles Down

Crypto Insight Summary: Asset manager Bitwise deposited 1.775 million HYPE worth about $114 million into Hyperliquid and subsequently staked the same tokens. The move expands a position the firm has been building since launching a spot Hyperliquid fund in May. A $114 Million Onchain Bet Bitwise moved 1.775 million HYPE, the native token of the Hyperliquid exchange, into […] Crypto Insight Analysis: Direction: Bullish HYPE Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: Bitwise's large HYPE stake signals institutional confidence in Hyperliquid.