The native token of HyperLiquid, known as HYPE, surged to a record high of $75.4 on Monday, continuing its upward trend due to strong demand and a thriving ecosystem.
HYPE skyrockets as Grayscale prepares ETF launch, Bitwise garners $100M in AuM
This increase occurs alongside a growing interest from institutional investors towards HYPE. Grayscale is gearing up to enter the exchange-traded fund (ETF) market with a spot hyperliquid ETF.
The firm has submitted an amendment to its S-1 registration application to the Securities and Exchange Commission (SEC). Bloomberg’s ETF analyst, James Seifert, mentioned on X that these recent changes imply a possible launch soon, suggesting it could happen within days. The proposed ticker, HYPG, comes with a management fee of 0.29%, positioning it competitively against existing ETFs.
“This is slightly lower than $BHYP and $THYP, which have fees of 0.34% and 0.30%, respectively,” Seifert noted.
This push for an ETF highlights a wider trend of institutional investments flowing into HYPE. Bitwise Asset Management has experienced notable success with its HyperLiquid ETF (BHYP), which saw around $20 million in inflows on Friday—the largest single-day influx since its inception.
After just 11 days of trading, the fund managed to surpass $100 million in assets under management (AuM), with total inflows reaching $81.8 million. It boasts an average daily trading volume of $35.1 million and features like full wallet transparency and in-house staking. Bitwise also plans to hold back 10% of HYPE’s annual management fees on its balance sheet for at least a year.
Recent data from Lookonchain indicates that the company acquired an extra 336,474 HYPE tokens—worth about $24.4 million—in the last 24 hours, signaling strong institutional momentum.
“With $20 million in volume traded today alone, there’s a palpable excitement surrounding HyperLiquid. We are grateful to our investors,” said Bitwise CEO Hunter Horsley on X.
This development follows recent activities by the Commodity Futures Trading Commission (CFTC), along with the approval of perpetual futures trading in the U.S.
This decision is anticipated to enhance the market’s legitimacy, promote domestic participation, and lessen dependence on offshore platforms. It may also bolster competitors to HyperLiquid in the U.S., as regulators target products from Coinbase and Kalsi.
As of now, HYPE is trading at $73.1, experiencing a slight dip of 0.2% over the past 24 hours.
