Spot Hyperliquid ETF Sees Strong Demand With $154 Million Inflows

Key Insights:

• The Hyperliquid ETFs – THYP, BHYP, and HYPG – are driving the most demand with 434 million HYPE tokens currently staked.
• Bitwise recently purchased an additional 77,097 HYPE tokens worth roughly $5.18 million.
• HYPE price has rebounded strongly from its recent low near $54, eying new all-time highs.

Hyperliquid ETF has witnessed a very strong demand in the market, with net inflows now crossing $154 million.

The institutional demand around the HYPE token is on the rise, thereby pushing the HYPE price up. This happened after the recent fall to $54. Traders are reportedly positioning themselves for the next leg of the rally for this cryptocurrency.

Spot Hyperliquid ETFs See $154 Million of Inflows

Within the first month of trading, the three spot Hyperliquid ETFs launched in the market have seen $153 million in net inflows. The demand is high, such that these ETFs generated a cumulative trading volume of $900 million.

The three spot HYPE ETFs currently available in the market include 21Shares’ THYP, Bitwise’s BHYP, and Grayscale’s HYPG. All three products hold HYPE tokens directly and distribute staking rewards to investors. Thus, they simultaneously provide exposure to HYPE price appreciation and yield generation.

Among the funds, BHYP and THYP have accounted for the majority of trading activity. On the other hand, staking participation within the network remains robust. Approximately 434 million HYPE tokens, representing around 45% of the stakeable supply, are currently staked.

The overall development shows early traction for spot HYPE ETFs, and rising institutional participation in the DeFi infrastructure space.

Bitwise Makes Massive HYPE Token Purchase

Blockchain analytics firm Arkham Intelligence reported that asset manager Bitwise has expanded its exposure to Hyperliquid.

A few hours ago, the firm purchased an additional 77,097 HYPE tokens worth approximately $5.18 million. According to on-chain data, the transaction was executed through FalconX roughly an hour before the latest report.

On the other hand, Hyperliquid DEX saw a sharp surge in user activity on June 13. Nearly 40,000 new wallets reportedly created within a single hour. According to data shared by HyperTracker, a total of 39,754 new wallets were created on the Hyperliquid network during the one-hour period.

HYPE Price Eyes Bigger Gains: Is $100 Next?

HYPE price has given a strong bounce and seen a strong trend reversal after bouncing back from $54 levels. At press time, HYPE token is trading up by 11.13%, with daily trading volumes surging to $1.32 billion.

Popular analyst Altcoin Sherpa noted that Hyperliquid has surprised everyone with the recent recovery. As of now, HYPE is trading at $70, and the immediate next target given by the analyst is $74. it previous all-time high.

Analyst Michael van de Poppe also believes that we could soon be in the new price discovery zone. He said that if BTC continues to move higher, the liquidity will eventually pour into altcoins like HYPE, which are already doing well.

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