Investors in the HYPE-linked fund purchased $10.5 million of the asset on Friday, marking the strongest daily volume since August 27. This activity follows a four day period of zero buying, bringing total acquisitions for the Bitwise BHYP ETF to $166.3 million since its launch, establishing it as the largest product of its kind.

Thirty institutional firms disclosed $74.9 million in combined Hyperliquid ETF holdings as of June 30, per 13F filings analyzed by Bloomberg analyst James Seyffart. Brazil's Wealth High Governance Asset Management reported the largest individual position at $23.9 million, while the top five holders, including UBS and Jane Street, controlled 71% of all disclosed assets.