Wallets linked to a16z crypto accumulated $90.87M in HYPE since April 14, becoming the 6th-largest holder with 1.3M tokens staked.

HYPE tokens surged over 5% on Monday after Bitwise’s spot ETF debut on NYSE Arca offset regulatory pressure instigated by CME and ICE.

Bitwise will hold HYPE from Hyperliquid ETF fees as HYPE funds pass $5.6M in inflows after 21Shares and BHYP launches.

The asset manager recently launched a HYPE-based exchange-traded fund and said it will use some of the fees generated to buy the token.

Wallets linked to a16z crypto accumulated $90.87M in HYPE since April 14, becoming the 6th-largest holder with 1.3M tokens staked.

Hyperliquid's HYPE token has decoupled from Bitcoin with 101% YTD gains as the platform's revenue explodes across multiple sectors.

Hyperliquid is trading just 2.5% below its all-time high as Grayscale, Galaxy and an a16z-linked wallet collectively accumulated HYPE.

HYPE nears its all-time high as the new AQAv2 Coinbase partnership and historic spot ETF launches fuel a massive 50% weekly rally.

Grayscale-linked wallets bought 115,733 HYPE tokens worth $6.6M in one hour, accumulating over 680,000 HYPE ($35M) in a week ahead of a potential spot ETF.

Hyperliquid ETFs hit $81M in total assets after $16.15M single-day inflow, marking one of the fastest accumulation runs for a new spot crypto ETF product.

Of note, Grayscale-linked wallets reportedly accumulated over $40 million worth of HYPE over the past week.