What to know:
- Institutions continue to invest in hyperliquid ETFs, bringing inflows worth around $53 million into the US markets.
- HYPE is currently priced at $57.66, while its volume and market cap are $3.88B and $14.66B. It has surged by 1.85% in value.
- In ETFs, there was trading worth $41 million, inflows amounting to $25.5 million, Bitwise $8.8M, and 21Shares $16.6M.
Hyperliquid ETF continued attracting strong investor demand as trading activity accelerated across newly launched products in the United States. The latest inflow figures coincided with rising market activity surrounding the Hyperliquid ecosystem.
Currently, the HYPE is trading at $57.66 and has a volume of about $3.88 billion per 24 hours. Its market capitalization stands at $14.66 billion, having risen by 1.85% over the past day, according to information released by market tracking data.
Bloomberg ETFs analyst James Seyffart reported that a total of nearly $53 million flowed into the two Hyperliquid ETFs until yesterday due to increased participation from institutions in cryptocurrency-focused investment products.
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Hyperliquid ETF Trading Volumes Accelerate
Hyperliquid ETFs in the US from Bitwise and 21Shares saw significant growth in trading volumes this week. Data from SoSoValue revealed that both ETFs saw nearly $41 million in traded volumes since their launch just days ago, with Wednesday marking a spike in daily trading volumes.
The growing momentum marked an unusual trend for ETFs just days after they were listed on the exchanges, according to Bloomberg ETFs analyst Eric Balchunas. In an X post, he observed that ETFs normally witness high opening trade volumes but then see volumes reduce significantly afterward.
However, he explained that this week, the HYPE ETFs kept gathering momentum steadily, indicating the growing momentum in investor participation. Both ETFs also saw their biggest day of inflows on Wednesday, with a total of nearly $25.5 million in inflows. This included the 21Shares Hyperliquid ETF recording $16.6 million in inflows, while the Bitwise Hyperliquid ETF saw nearly $8.8 million in inflows.
HYPE Token Performance Supports Investor Interest
The HYPE token has become one of the strongest-performing cryptocurrencies this year, rising by approximately 120% since January. Analysts attributed the ETF’s rising momentum, considering that most cryptocurrencies like the S&P 500, the Nasdaq 100, and Bitcoin, have been experiencing drops due to weak performance in traditional markets over the last few months.
Interest in Hyperliquid products also expanded after Grayscale filed for a Hyperliquid ETF in March, with the proposed fund currently under regulatory review in the United States. More analysts consider Hyperliquid to be a rapidly growing crypto perpetual futures platform.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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