Bitwise Sells $50.47M in BTC and ETH, Buys $1.34M in SOL

Bitwise sold Bitcoin (BTC), Ethereum (ETH), and Hyperliquid (HYPE) while buying Solana (SOL), with total sell volume reaching approximately $50.47 million ($686 billion) and SOL purchase amounting to about $1.34 million ($18 billion). On-chain data analytics platform OnchainLens reported on September 16 that Bitwise ETF-related wallets moved 162.78 BTC and 14,300 ETH. Bitcoin sales totaled around $12.32 million ($168 billion), while Ethereum sales amounted to approximately $34.21 million ($465 billion). Hyperliquid (HYPE) saw 56,000 units sold for about $3.94 million ($54 billion). Meanwhile, Bitwise purchased 13,750 SOL from Coinbase for roughly $1.34 million ($18 billion).

The transactions reflect mixed activity across different assets rather than an overall reduction in cryptocurrency holdings. On-chain movements show wallet transfers but do not necessarily indicate final purposes or full portfolio composition. Bitwise operates a Solana staking ETF (BSOL), which has surpassed $1 billion in AUM, with net asset value reported at $968.94 million as of September 10.

Bitwise previously launched a Hyperliquid ETF (BHYP) in May and had been purchasing HYPE for staking. Recent data shows some selling activity in HYPE following previous buying trends, though the scale is smaller than BTC and ETH sales. The company's overall strategy regarding HYPE-related products appears unchanged as ETFs adjust based on investor inflows and redemptions.