Bitwise's BHYP ETF transferred 39.31K HYPE (~$2.13M) to Coinbase; fund has moved $17.35M total to the exchange over recent weeks.
Macro & Markets ·
Bitwise's BHYP Hyperliquid ETF transferred 39.31K HYPE tokens, valued at approximately $2.13 million, to Coinbase in a recent transaction. This movement is part of a broader pattern: the fund has moved a cumulative 280.69K HYPE (~$17.35M) to the exchange across multiple transactions over recent weeks, according to Arkham Intelligence.
As of the time of reporting, the fund maintains 354.04K HYPE tokens worth approximately $19.25 million in its holdings, alongside $34.62 million in HYPE tokens held in Hyperliquid staking. The regular transfers to Coinbase suggest ongoing liquidity management or redemption activity tied to the ETF's operations.
The nature and timing of these deposits remain unclear—whether they reflect routine fund operations, investor redemptions, or strategic positioning adjustments has not been specified in available data.