According to the blockchain analytics platform Arkham (ARKM), Bitwise, the issuer of the Hyperliquid (HYPE) spot exchange-traded fund (ETF), made a massive purchase of $20 million worth of HYPE in just a single day.

Prior to this purchase, Bitwise's HYPE spot ETF, 'BHYP', bought a total of $41.8 million worth of HYPE last week. It has been revealed that the total amount of HYPE currently staked by Bitwise reaches $50 million.

Arkham elaborated, "If you had bought in when BHYP launched two weeks ago, the return would have outperformed the S&P 500's return over the past two years," emphasizing the outstanding performance of the asset.