HYPE ETFs Pull $150M as Bitcoin ETFs Fall 16%
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- Bitwise and 21shares launched spot HYPE ETFs in May, raising close to $150 million in assets and seeing mostly positive net inflow days.
- Grayscale launched its Hyperliquid Staking ETF (HYPG) on Wednesday, which held $4.5 million in assets as of June 5.
- Hyperliquid routes 99 % of platform fees to buy back the HYPE token, creating a direct feedback loop between trading activity and token value.
- iShares Bitcoin Trust ETF (IBIT) ended the week down about 16 %, underscoring Bitcoin’s sell‑off while HYPE ETFs attract inflows.
- Stephen Coltman noted that during the U.S.–Iran war, Hyperliquid’s oil‑related trading volume briefly reached roughly $1 billion per day.
- Grayscale offers the lowest expense ratio among the HYPE ETFs at 0.29 %, compared with 0.30 % (21shares) and 0.34 % (Bitwise).
- Zach Pandl expects U.S. regulatory approval for Hyperliquid by 2027, which could open the platform to U.S. investors.
Why it matters: Investors gain a low‑cost, wallet‑free entry to Hyperliquid’s fee‑back token, while Bitcoin ETF holders lose roughly 16 % of assets; the $150 million influx into HYPE ETFs signals a new capital flow that could boost Hyperliquid’s market presence despite regulatory hurdles and may attract non‑crypto investors.
