Recently launched US exchange traded funds tied to Hyperliquid’s HYPE token are making waves across the crypto market after delivering one of the strongest ETF debuts the industry has seen.
New figures show that HYPE based ETFs achieved a milestone within just 10 trading days that spot Bitcoin, Ethereum, and Solana ETFs were unable to reach during their own launches.
HYPE ETFs Set New Benchmark
According to Kairos Research, spot HYPE ETFs absorbed approximately 1.04% of HYPE’s total market capitalization within their first 10 trading days.
The research firm described the performance as the strongest launch for any spot crypto ETF to date.
For comparison, spot Bitcoin ETFs captured around 0.59% of Bitcoin’s market cap during the same period, while spot Ethereum ETFs reached 0.41%, excluding outflows from GBTC and ETHE products.
Spot Solana ETFs reportedly recorded just 0.31%.
The two major HYPE related funds, 21Shares’ THYP and Bitwise Asset Management’s BHYP, have already attracted more than $95 million in combined net inflows shortly after launch.
Eric Balchunas previously described the timing of the launches as “perfectly timed.”
THYP debuted on Nasdaq on May 12 as the first HYPE focused ETF available in the United States market and had accumulated approximately $44 million in net inflows by May 26.
BHYP entered the market two days later on May 14 and has already attracted roughly $55 million in net inflows, according to data from SoSoValue.
Consistent Inflows Fuel Momentum
Both funds have now recorded nine consecutive trading days of inflows without experiencing a single day of outflows.
The strong performance stands out even more given broader ETF market conditions. On Tuesday alone, Bitcoin and Ethereum ETFs reportedly saw combined outflows approaching $370 million, while Solana ETFs recorded no inflows or outflows during the session.
HYPE Token Surges Alongside ETF Demand
The rapid rise in HYPE ETF inflows has coincided with a sharp rally in the underlying token’s price.
While several leading cryptocurrencies have struggled to establish clear bullish momentum this month, HYPE has climbed nearly 50% over the same period. The token was trading near $62.31 at the time of reporting.
On chain data also highlighted a highly profitable trade during the rally.
Blockchain analytics platform Lookonchain revealed that a trader created a new wallet 46 days ago and used $5 million in USDC to purchase HYPE.
After holding the position for more than a month, the trader sold the entire allocation on Tuesday for approximately $7.51 million, securing a profit of around $2.51 million in just 46 days.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
