Bitwise’s $19M HYPE buy strengthens bull case, but ONE risk remains
Institutional interest in Hyperliquid from traditional investors continues to grow, with recent data showing that Spot U.S. HYPE exchange-traded funds [ETFs] have already accounted for 1.04% of the assets total market capitalization, currently valued at $15.63 billion. This compares favorably to Bitcoin and Ethereum ETF penetration at 0.59% and 0.41%, respectively. Despite broader market struggles, Hyperliquid [HYPE] continues to hold above $60, with traditional investor participation playing a central role in sustaining that level. Bitwise records a $19 million single-day HYPE purchase Bitwise has recorded its largest single-day spot HYPE ETF purchase, according to data from SoSo Value for the trading session on the 26th of May. The $19 million single-day purchase represented 93.15% of the total $20.45 million in HYPE ETF purchases recorded that day. Trading volume from the Spot HYPE market showed bulls in full control during this period, with the total $22 million in volume largely absorbed by buyers in the ETF market. Source: SoSoValue Total HYPE volume has risen 44% in the past 24 hours to $1 billion, climbing alongside price and reinforcing the bullish grip on current sentiment. HYPE assets under management have now reached $30.5 million. Bitwise CEO Hunter Horsley commented on the development, noting that Volume today was ~$22M, which means almost all









