Bury boss Kevin Blackwell on Thursday said the 21-year-old had returned to parent club Bolton ahead of a move to Easter Road.
Blackwell said in the Bolton News: "Gregg Wylde has gone back to Bolton after his loan and I believe he has gone to Hibs, either tomorrow (Thursday) or today (Friday)."
Hibs manager Pat Fenlon earlier expressed his frustration over transfer speculation surrounding his club.
Fenlon has also been linked with the likes of St Mirren midfielder Kenny McLean and Rochdale midfielder Jason Kennedy.
But Fenlon insists most of the names which have appeared in print are not on his wish list.
He told Press Association Sport: "I've seen one or two of the stories about people we have been linked with, but I don't know where they have come from.
"It amazes me when you get linked with talking to people and offering pre-contracts to people when you haven't even looked at them.
"Anything we are trying to do, we will keep it in-house. As soon as there is anything to know, we will let the supporters know."