New spot HYPE ETFs outperform BTC and ETH counterparts in early market cap absorption, per data.
Spot HYPE exchange-traded funds absorbed 1.04% of the cryptocurrency’s total market capitalization within their first 10 trading days, the highest uptake for any spot crypto ETF to date. The figure surpasses initial absorption rates for comparable products tracking BTC and ETH.
During the same 10-day period, spot BTC ETFs captured 0.59% of Bitcoin’s market cap, while spot ETH ETFs absorbed 0.41%. SOL-based ETFs trailed further at 0.31%. The data highlights stronger early demand for HYPE-linked products.
No immediate market reaction was detailed in the findings.