Key facts
- Hyperliquid's HYPE token reached an all-time high of $74.67.
- Three U.S.-listed ETFs now track HYPE, with Grayscale's HYPG being the latest.
- These ETFs have attracted over $136 million in net inflows in three weeks.
- Bitcoin ETFs saw $396.6 million in outflows on Wednesday.
- Hyperliquid's platform processed over $62 billion in trading volume in May.
- CoinShares estimates HYPE could reach $147 per token by 2031.
Hyperliquid's HYPE token has reached an all-time high of $74.67, surpassing Solana's SOL in price. This surge is attributed to increased institutional interest, the launch of new U.S.-listed ETFs, and growing platform usage. Three ETFs now track HYPE: Grayscale's HYPG (launched Wednesday), 21Shares' THYP, and Bitwise's BHYP. Collectively, these products have seen over $136 million in net inflows within three weeks. Grayscale's HYPG offers the lowest management fee among U.S. HYPE ETFs and includes staking rewards. The accessibility through regular brokerage accounts is driving demand. This trend coincides with significant outflows from Bitcoin ETFs, which totaled $396.6 million on Wednesday and $4.37 billion over the past 13 days, suggesting a capital rotation. Hyperliquid's platform has also shown robust growth, processing over $62 billion in trading volume in May and capturing a record 6.63% of the global perpetual futures market. Research firm CoinShares estimates HYPE could reach $147 by 2031, citing its buyback mechanism and market share growth. Wall Street traders are reportedly using the 24/7 platform for futures trading on various assets.