Bitwise disclosed that its holding address has cumulatively purchased approximately $19.78 million worth of HYPE and pledged all of it.

CoinFeed reported on May 21 that, according to Arkham data, after Bitwise disclosed its ETF-related on-chain addresses, it has cumulatively purchased approximately $19.78 million worth of HYPE and staked it all, currently showing a paper profit of approximately $2.4 million. These addresses are participating in staking within the Hyperliquid ecosystem at an annualized yield of approximately 48%, further tightening the circulating supply of HYPE.