HYPE ETFs top $100M inflows as TradFi quietly piles into Hyperliquid

HYPE ETFs have topped $100 million in cumulative net inflows within their first 10 trading sessions, giving Hyperliquid another institutional demand channel as interest in altcoin funds expands.

According to Farside Investors data, the funds added about $20 million in net inflows on Tuesday, lifting total inflows past the $100 million level. The early activity has come through two U.S. spot products tied to Hyperliquid’s native token, 21Shares’ THYP, and Bitwise’s BHYP.

HYPE funds draw early institutional demand

Farside Investors data showed that THYP and BHYP had already attracted $22.3 million in combined net inflows during their first week of trading. The same data showed that more than $11 million entered the products on a single trading day, giving the funds a fast start among recently launched altcoin investment vehicles.

Earlier this month, as previously reported by crypto.news, 21Shares launched the first U.S.-listed exchange-traded funds linked to Hyperliquid’s HYPE token. The launch included a spot product with staking exposure and a leveraged fund connected to the decentralized derivatives platform.

Bitwise also entered the market with BHYP, adding another regulated product for investors seeking exposure to HYPE without directly using crypto wallets or decentralized exchanges.

Hyperliquid’s trading activity supports ETF narrative

According to Bitwise, Hyperliquid processed $2.9 trillion in trading volume in 2025. Bitwise also said the platform accounted for about 60% of global on-chain derivatives open interest, placing it among the most active venues in decentralized trading.

ETF inflows have arrived, while Hyperliquid’s token model remains closely tied to platform activity. Hyperliquid directs nearly 99% of its revenue toward daily open-market HYPE buybacks, according to the project’s tokenomics structure.

Bitwise has also said it will use 10% of BHYP management fees to buy HYPE and stake the tokens on its corporate balance sheet. That structure gives the fund another link to the underlying token beyond investor inflows.

HYPE rises nearly 50% this month

CoinMarketCap data showed HYPE trading near $59.84 at the time of writing, down more than 1% over the past 24 hours. Even with the daily decline, the token has gained nearly 50% this month, while major crypto assets have struggled to sustain a steady advance over the same period.

The price move has also brought attention to large individual trades. According to Lookonchain, one trader created a new wallet 46 days ago and used $5 million in USDC to buy HYPE.

Lookonchain said the trader sold the full position on Tuesday for $7.51 million. The sale produced a $2.51 million profit in 46 days, according to the on-chain tracker.

The latest inflow figures show that demand for crypto ETFs is no longer limited to Bitcoin and Ethereum products. Recent launches tied to Solana, XRP, and now Hyperliquid have added more choices for investors using regulated market products.