Institutional investors pour $172 million into Hyperliquid ETFs in a month, outpacing Bitcoin ETF outflows of $5.6 billion.
Hyperliquid ETFs have attracted nearly $172 million in net inflows since their May launch, driven by institutional demand for yield-generating crypto assets. The protocol’s native token, HYPE, reached an all-time high of $75.96, up 196% in 2026.
Bitwise’s BHYP leads with $106.6 million in inflows and $122.8 million in net assets, followed by 21Shares’ THYP and Grayscale’s HYPG. Cumulative trading volume across the three ETFs nears $900 million, contrasting with Bitcoin ETFs, which saw $5.6 billion in outflows over the same period.
Institutional buyers are treating HYPE as a high-growth tech equity, prioritizing protocol revenue over non-yielding assets. Hyperliquid’s HIP-3 also saw SpaceX perpetuals generate $1.4 billion in volume in a single session, underscoring strong market activity.