- ETF inflows for Hyperliquid soared to $25.5 million on Wednesday, surpassing the combined net buying of the previous five days and dramatically outpacing its token burn mechanism.
- The HYPE token surged more than 15% to trade near $57, extending its explosive rally and significantly outperforming other major altcoins.
- Bitwise demonstrates strong institutional support by pledging 10% of its new ETF’s fees to hold HYPE, aligning with the protocol’s community-focused revenue model.
The Hyperliquid ecosystem witnessed a massive surge of institutional capital and token price momentum this week. On Wednesday, the newly launched spot ETFs absorbed a record $25.5 million in net inflows, according to SoSoValue data, a figure that exceeded the combined total from the product’s first five days. Consequently, the HYPE token rallied to an intraday high of $58.97 on Thursday, currently trading at $57.20 for a 15.3% daily gain.
This ETF buying demand is now 17 times higher than the token’s daily $1.4 million supply burn from its Assistance Fund, per Dune Analytics. This dynamic could significantly tighten the available supply of HYPE tokens in the market. “The market is rewarding real trading volume, fee generation, user engagement, and the perception that Hyperliquid is becoming one of the few crypto native platforms capable of competing with centralized exchange experiences,” Nebula DeFi CEO Jason Rindahl told Decrypt.
Meanwhile, ETF issuer Bitwise has doubled down on its commitment to the protocol. The firm published the on-chain wallet addresses for its Bitwise Hyperliquid ETF for transparency and announced it will devote 10% of the fund’s management fee to holding HYPE on its balance sheet. Bitwise CIO Matt Hougan published a detailed memo arguing the market is still mispricing HYPE’s potential. “Hyperliquid is one of the most important crypto projects to emerge in years,” Hougan wrote, adding that investors are underestimating its value.
This institutional fervor follows the token’s stellar performance, which has more than doubled this year. On prediction platform Myriad, a contract on HYPE hitting $52 in May already resolved to 100% as it blew past that target.
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