HYPE Price Rises as Bitwise ETF Resumes $10.5 Million Buying

TLDR:

• HYPE price holds near $85.45 after BHYP added $10.5 million in tokens, ending a four-day pause in purchases by Bitwise clients.
• Bitwise has accumulated $166.3 million in HYPE since BHYP launched, making the fund the largest HYPE ETF by reported size.
• Hyperliquid bought and burned 9,730 HYPE worth about $829,500 in one day, extending lifetime burns to 48.42 million tokens.
• The ETF purchase adds regulated spot demand, while fee-funded burns permanently shrink supply and leave $88.06 as nearby resistance.

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HYPE price traded near $85.45 as Bitwise clients resumed purchases through the BHYP fund. The product added $10.5 million in HYPE on Friday after recording no purchases for four consecutive days. Arkham data identifies the transaction as BHYP’s largest daily addition since a $23.2 million purchase on August 27.

Total acquisitions have now reached $166.3 million since launch, placing BHYP above rival HYPE products by size. Meanwhile, Hyperliquid bought and burned 9,730 HYPE worth about $829,500 within 24 hours. The two flows pair renewed regulated demand with a steady reduction in the token’s available supply during market strength.

HYPE Price Finds Support From Bitwise ETF Accumulation

BHYP’s renewed activity ends a brief pause that followed several weeks of institutional accumulation. Friday’s $10.5 million purchase represents about 123,000 HYPE at prices near $85.27. The estimate shows the scale of demand entering through one regulated product.

Bitwise launched the spot Hyperliquid ETF in May, offering investors indirect exposure to the Hyperliquid token. The fund also stakes a large portion of its holdings through Bitwise’s internal infrastructure. Staking can add token rewards, although the structure carries operational, liquidity and slashing risks.

Arkham’s figures place cumulative purchases at $166.3 million since launch. That total makes BHYP the largest HYPE ETF by reported size. It also signals that the four-day buying gap did not mark a clear end to client demand.

The purchase came while HYPE price held near the upper end of its recent range. Market data placed HYPE price near $85.45, up about 1.5% over 24 hours. HYPE also traded roughly 3% below its $88.06 record, reached on September 3.

Friday’s session ranged from about $83.73 to $86.15. Buyers therefore absorbed weakness below $84 before lifting the token back above $85. Immediate resistance sits near $86.15, followed by the record zone between $87.66 and $88.06.

A sustained move above that area would establish fresh price discovery. Conversely, weakness below $83.70 could expose the September 2 area near $80.25. The ETF purchase offers measurable spot demand, but HYPE price direction still depends on broader trading flows.

Hyperliquid Burns $830,000 While Token Supply Contracts

Onchain Lens data shows Hyperliquid acquired and burned 9,730 HYPE during the latest 24-hour period. The tokens carried an average purchase price of $85.27 and a combined value near $829,500. Network documentation states that the assistance fund permanently removes all HYPE from both circulating and total supply.

Lifetime burns have reached 48.42 million HYPE, based on the tracker. At the current HYPE price, those tokens would carry a market value near $4.14 billion. The removed amount equals about 4.84% of the original one-billion-token maximum supply.

This mechanism links activity on Hyperliquid with recurring market purchases. Trading fees support assistance-fund buying, while each burn reduces the number of issued tokens. Higher platform activity can therefore increase the pace of purchases without creating a fixed schedule.

The latest daily burn is small beside the token’s circulating supply. Still, repeated removals can matter over longer market periods, particularly when ETF demand absorbs additional coins. Friday’s BHYP purchase was almost 13 times larger than the reported 24-hour burn in dollar terms.

The current setup shows two verifiable flows operating together. BHYP provides regulated accumulation, while Hyperliquid’s fee mechanism removes token supply permanently.

The latest burn alone does not automatically raise market valuation because demand, liquidity and broader risk appetite also shape trading. BHYP shares also differ from direct token ownership and carry product-specific fees and risks.

HYPE price now sits between nearby support and its recent record. A break above $88.06 would confirm that buyers have cleared the latest supply area. Holding above $83.70 would preserve the short-term rebound structure established after Friday’s intraday decline.

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Source: https://blockonomi.com/hype-price-rises-as-bitwise-etf-resumes-10-5-million-buying/