Bitwise, a global digital asset manager, has recently sold Bitcoin (BTC) and Ethereum (ETH) while purchasing Solana (SOL). Analysts are debating whether this move is simply a risk‑reduction measure or part of a broader portfolio realignment.
According to OnChainLens’s report, Bitwise sold 162.78 BTC (about $12.3 million) and 14,300 ETH (about $34.2 million), disposing of assets worth about $46.5 million in total. HYPE (Hyperlink) also sold a portion, and Bitwise confirmed it sold 56,000 HYPE for roughly $3.94 million. The combined digital‑asset sales amount to approximately $50.47 million.
Alongside the sale, Bitwise’s purchase of Solana is noteworthy. It bought 13,750 SOL from Coinbase for about $1.34 million, a strategy that expands its Solana holdings while divesting BTC, ETH and HYPE.
Bitwise is also active in Solana‑related products. In particular, the Bitwise Solana Staking ETF (BSOL) has surpassed $10 billion in assets under management since launch. According to U.Today, the company reportedly acquired over $170 million of SOL through its Solana ETF.
The HYPE sale and Bitwise’s shift in Hyperlink investment strategy may be difficult to explain. After launching the Hyperlink ETF (BHY) in May last year, Bitwise has been buying HYPE and staking it, and according to crypto‑rank, the company’s total HYPE holdings are estimated at about $18.4 million.