Bitwise Adds $10M in HYPE, Holdings Now Top $40M!

Bitwise made another significant move into Hyperliquid's native token, purchasing 162,367 HYPE tokens worth approximately $10.11 million over a two-hour window. The rapid accumulation pace signals a deliberate, conviction-driven position build rather than a passive allocation.

According to Bitwise's official website, the firm now holds 723,361 HYPE tokens valued at $40.37 million as of May 21, 2026. For a regulated asset manager to concentrate that level of exposure in a single mid-cap DeFi token is a notable statement of institutional confidence in the Hyperliquid ecosystem.

The speed of the latest tranche — $10M deployed in under two hours — suggests Bitwise is either front-running an anticipated catalyst or aggressively averaging into a target allocation before price moves further.