🚨 @Bitwise will dedicate 10% of the management fees from its @HyperliquidX ETF to purchasing hyperliquid:native tokens. The product, named $BHYP, has just been listed on the NYSE. This move brings the issuer closer to Hyperliquid’s community-driven model, which already redistributes 99% of protocol revenues through HYPE buybacks and burns. The token has become the 10th largest cryptocurrency by market cap in under two years since its launch, with a market capitalization of approximately $11 billion. The protocol supports over 130 perpetual markets (crypto, equities, commodities, and forex) and has generated $4.4 trillion in perpetual trading volume, according to @DefiLlama. Bitwise thus becomes one of the first ETF issuers to align its own revenues with the accumulation of the underlying token of its product.