Hyperliquid ETFs Record $25.5 Million Inflows as Institutional Interest Grows

Spot Hyperliquid ETFs in the United States attracted a record $25.5 million in net inflows on Wednesday, showing rising institutional demand for exposure to the fast growing decentralized trading ecosystem.

The latest figures mark the strongest daily inflow since the products launched earlier this month. Farside Data shows inflows steadily increased throughout the week, climbing from $4.4 million on Monday to $11 million on Tuesday before reaching Wednesday’s record level. In total, spot HYPE ETFs have gathered nearly $54 million in cumulative net inflows during their first seven trading days.

21Shares and Bitwise Hyperliquid ETFs Lead Growth

The 21Shares Hyperliquid ETF (THYP), which launched on May 12, led the latest inflows with $16.7 million, a major jump from $5.3 million recorded a day earlier. Meanwhile, the Bitwise Hyperliquid ETF (BHYP), launched on May 14, added $8.8 million in net inflows after bringing in $5.7 million the previous day.

Market analysts say institutions are entering HYPE ETFs at an unusually fast pace. Peter Chung, head of research at Presto Research, said institutional investors appear to be buying HYPE ETFs faster than Bitcoin ETFs when adjusted for market capitalization.

HYPE Price Surges as Hyperliquid Strengthens Position

The strong demand also lifted Hyperliquid’s token price. HYPE climbed 17.3% over the last 24 hours to trade near $55.91, pushing its market capitalization to around $13.4 billion.\

Earlier in the day, Hyperliquid’s fully diluted valuation briefly reached nearly $54.7 billion, slightly surpassing Solana’s valuation of about $54.2 billion.

Analysts believe Hyperliquid’s appeal comes from its growing dominance in onchain derivatives trading. The network reportedly captured around 42% of blockchain fee revenue this week, outperforming Tron, Solana and Ethereum.

Why Institutions Are Watching Hyperliquid

Analysts say HYPE offers a different investment case compared to Bitcoin and Ethereum. While Bitcoin is often treated as a store of value and Ethereum is linked to staking rewards, HYPE is increasingly viewed as a revenue-generating asset because part of the platform’s fees are used for token buybacks, creating a business-style valuation model for investors.