bitwise

According to SoSoValue data, yesterday (Eastern Time July 10), the HYPE spot ETF had a total net outflow of $5.7251 million.The HYPE spot ETF with the highest net outflow yesterday was the Bitwise Hyperliquid ETF (BHYP), with a net outflow of $3.7774 million, and the historical total net inflow currently stands at $131 million.Following that is the 21Shares Hyperliquid ETF (THYP), with a net outflow of $1.9477 million, and the historical total net inflow currently stands at $55.0473 million.As of the time of writing, the total net asset value of the HYPE spot ETF is $351 million, with a HYPE net asset ratio of 2.35%, and the historical cumulative net inflow has reached $309 million.

Bitwise released the Q3 2026 cryptocurrency market review, stating that in the second quarter, the Bitwise 10 Large Cap Crypto Index fell by 15.4%, with 8 out of 10 constituent assets declining. The spot Bitcoin ETF recorded the worst quarterly outflow on record, while on-chain activity, trading volume, and DeFi assets all decreased, and the correlation between the cryptocurrency market and stocks increased.During the same period, the prediction market trading volume reached a new high of $43.2 billion, nearly 18 times year-on-year; the tokenized real-world assets grew by 50.3% this year to $32.89 billion; the Bitwise Crypto Innovators 30 Index rose by 30.6%; the settlement scale of stablecoins was 2.3 times that of Visa, holding more U.S. Treasury bonds than most countries; Hyperliquid, PancakeSwap, and Aave each generated approximately $900 million in revenue over the past year.Bitwise noted that it has recorded negative returns for three consecutive quarters, the longest since 2022, but compared to the bottom of the 2022 bear market, Ethereum trading activity has increased by about 13 times, the value locked in DeFi has grown by over 60%, and the assets under management in stablecoins have roughly doubled.

According to SoSoValue data, yesterday (Eastern Time July 8) the total net outflow of the SOL spot ETF was $8.6468 million.The SOL spot ETF with the highest net outflow yesterday was the Bitwise Solana Staking ETF (BSOL), with a net outflow of $6.6086 million, and the total historical net inflow currently stands at $900 million. The second was the Grayscale Solana Trust (GSOL), with a net outflow of $2.0381 million, and the total historical net inflow currently stands at $108 million.As of the time of publication, the total net asset value of the SOL spot ETF is $894 million, with a SOL net asset ratio of 1.99%, and the historical cumulative net inflow has reached $1.137 billion.

According to Onchain Lens monitoring, Bitwise purchased 33,600 HYPE from Wintermute, worth 2.4 million dollars.

Bitwise Chief Investment Officer Matt Hougan published an analysis of the volatility of STRC under Strategy (MSTR). He believes that Strategy currently holds approximately $49.6 billion in Bitcoin and $2.6 billion in cash, with asset size far exceeding debt and preferred stock obligations, posing no liquidation risk. The company's newly launched digital credit capital framework allows it to flexibly sell Bitcoin to pay dividends based on market conditions, no longer forcing the maintenance of STRC at a par value of $100.Hougan emphasized that Strategy has been the world's largest Bitcoin buyer and a source of one-way demand over the past few years, but this situation is likely coming to an end. In the future, Strategy will flexibly buy or sell Bitcoin based on market conditions, but will not become a large-scale seller (with limited mandatory sales each year). If Bitcoin prices rebound, it may still become a net buyer. Overall, the importance of Strategy in the next cycle will be lower than in the previous cycle.He believes that the volatility of STRC reflects the process of deleveraging in the market, which is a typical characteristic at the end of a bull market. As these mismatched funds are squeezed out, the market bottom is forming, and a new bull market is expected to begin this fall.

Bitwise Research Director André Dragosch posted on the X platform that July could be a key month for Bitcoin to switch from a bear market to a bull market. He pointed out that if semiconductor stocks significantly reverse from their current position, the Federal Reserve may respond with a dovish stance. Bitcoin is likely to complete its reversal ahead of the market's general expectation of a bottom in October.

According to SoSoValue data, yesterday (Eastern Time June 26), the HYPE spot ETF had a total net inflow of $1.8161 million in a single day.Yesterday, only the Bitwise Hyperliquid ETF (BHYP) had a net inflow, with a single day net inflow of $1.8161 million, bringing the historical total net inflow to $115 million.As of the time of writing, the total net asset value of the HYPE spot ETF is $324 million, with a net asset ratio of 2.28%, and the historical cumulative net inflow has reached $294 million.

According to SoSoValue data, yesterday (Eastern Time June 26), the total net inflow of XRP spot ETFs was $15.632 million.The XRP spot ETF with the highest net inflow yesterday was Bitwise XRP ETF (XRP), with a net inflow of $11.6648 million, bringing its historical total net inflow to $493 million.Following that was Franklin XRP ETF (XRPZ), with a net inflow of $3.9673 million, bringing its historical total net inflow to $410 million.As of the time of publication, the total net asset value of XRP spot ETFs was $934 million, with an XRP net asset ratio of 1.44%, and the historical cumulative net inflow has reached $1.470 billion.

According to SoSoValue data, yesterday (Eastern Time June 25), the HYPE spot ETF had a total net inflow of $108 million in a single day.Among them, the Grayscale Hyperliquid Staking ETF (HYPG) had a net inflow of $113 million in a single day, with a historical total net inflow of $123 million.The Bitwise Hyperliquid ETF (BHYP) had a net outflow of $2.8204 million in a single day, with a historical total net inflow of $113 million.As of the time of publication, the total net asset value of the HYPE spot ETF is $314 million, with a net asset ratio of 2.24%, and the historical cumulative net inflow has reached $292 million.

According to SoSoValue data, last week's trading days (Eastern Time June 14 to June 18) saw a net inflow of $10.66 million for the XRP spot ETF.The XRP spot ETF with the highest net inflow last week was the Franklin Templeton ETF XRPZ, with a weekly net inflow of $6.689 million, bringing the historical total net inflow for XRPZ to $406 million. The second was the Bitwise ETF XRP, with a weekly net inflow of $3.9732 million, and the historical total net inflow for XRP has reached $476 million.As of the time of writing, the total net asset value of the XRP spot ETF is $995 million, with an ETF net asset ratio (market value compared to total market value of XRP) of 1.39%, and the historical cumulative net inflow has reached $1.45 billion.

Bitwise CEO Hunter Horsley posted on the X platform, "In the 1990s, the internet was just emerging. Almost every idea seemed feasible. Hundreds of companies reached valuations of 500 million to 1 billion dollars based on these possibilities. By the early 21st century, that optimism faded. There were no longer hundreds of companies competing. Instead, a few companies that truly proved their worth thrived. Because they succeeded with demonstrable value, they operated longer and were larger in scale than in the previous cycle. The cryptocurrency sector is also undergoing a similar transformation. The number of winners will decrease, but the winners will stand out due to their demonstrable value. Their scale will be larger, and their operating time will be longer than people expect."

According to monitoring by Lookonchain, Bitwise bought 77,097 HYPE (5.18 million USD) again through FalconX 2 hours ago.

According to on-chain analysis platform Lookonchain (@lookonchain), Bitwise has once again purchased 77,097 HYPE, worth approximately 5.18 million dollars.

According to on-chain analyst Onchain Lens (@OnchainLens), Bitwise deposited 50,480 HYPE to FalconX, worth approximately 3.28 million dollars. As of June 7, 2026, Bitwise holds 1,553,865 HYPE, with a total value of approximately 96.8 million dollars.

Bitwise CEO Hunter Horsley stated that participants in the cryptocurrency industry should "broaden their perspective." Unless they are short-term traders, investors should not overly focus on weekly or monthly price fluctuations.Instead, the focus should be on two aspects: first, the substantive progress of the project itself, and second, the longer-term annual performance. This includes on-chain usage, technological advancements with product-market fit, integration of large enterprises and institutions in the field, construction and implementation status, as well as core factors such as team quality and execution capability.Although the market will not show linear development, the fundamentals of the industry are continuously and significantly improving from 2022 to 2026. Investors should recognize that this is a long-term process, and the final outcome will be determined by the fundamentals.

According to SoSoValue data, yesterday (Eastern Time June 5), the HYPE spot ETF had a total net outflow of $2.9171 million in a single day.Yesterday, only the Bitwise Hyperliquid ETF (BHYP) had a net outflow, with a single-day net outflow of $2.9171 million, and the historical total net inflow currently stands at $87.4952 million.As of the time of writing, the total net asset value of the HYPE spot ETF is $159 million, with a net asset ratio of 1.20%, and the historical cumulative net inflow has reached $149 million.

Bitwise Chief Investment Officer Matt Hougan posted on the X platform, stating that institutions are like large oil tankers, which have now adjusted their course to support cryptocurrencies, tokenization, and stablecoins.He believes that this trend will not slow down, regardless of price performance.

Grayscale submitted its S-1 amendment for the Hyperliquid Staking ETF, proposing to set the fund management fee at 0.29%, with the code HYPG. This rate is lower than similar products already launched by Bitwise and 21Shares. Among them, Bitwise's BHYP has a first-month fee rate of 0%, followed by 0.34%; 21Shares' THYP fee is 0.3%. Bloomberg ETF analyst James Seyffart stated that Grayscale's fund is expected to launch as soon as this week. If successfully launched, HYPG will become the third Hyperliquid-related ETF.

According to monitoring by Lookonchain, Bitwise has bought another 336,500 HYPE in the past 12 hours, worth 24.43 million dollars.