The holdings were staked after being redeposited, according to monitoring by HyperliquidNews.
Bitwise ETF redeposited 10,900 hyperliquid valued at about $615,000 and then staked the holdings, according to HyperliquidNews. The move put the assets back into staking (locking crypto to support a network and earn rewards), signaling the position was not just transferred but committed to the network’s staking process.