The Hyperliquid ETF reports that institutions have withdrawn over 1.136 million HYPE tokens from the exchange and staked them in the past 10 hours, driving HYPE to a new high of $75.8.

BlockBeats News, June 2nd. According to on-chain analyst Yin Jin, institutions continue to buy and stake HYPE, driving HYPE to a new all-time high this morning, reaching a peak of $75.8.

On-chain data shows that in the past 10 hours, at least 1.136 million HYPE tokens (approximately $82.42 million) have been withdrawn from exchanges and staked by Bitwise Hyperliquid ETF, a16z, Galaxy Digital, and other institutions.

Specifically, Bitwise Hyperliquid ETF (BHYP) withdrew 336,000 HYPE tokens (approximately $24.43 million) from Coinbase and staked them; a16z withdrew 300,000 HYPE tokens (approximately $21.58 million) from exchanges such as Kraken and OKX and staked them; an address starting with 0x279…BA8 withdrew 191,000 HYPE tokens (approximately $13.8 million) from Coinbase Prime; an address starting with 0x9C4…6FC withdrew 160,000 HYPE tokens (approximately $11.71 million) from Coinbase and staked them; Galaxy Digital staked 147,000 HYPE tokens (approximately $10.9 million).