bitwiseetf

The market for crypto exchange-traded funds is growing fast, and now Hyperliquid’s token, HYPE, is getting major attention from Wall Street.
This week, asset manager Bitwise Asset Management revealed that its new HYPE ETF recorded more than $40 million in daily trading volume during its latest trading session. The ETF, which trades under the ticker BHYP, also attracted $11 million in fresh inflows on Friday alone.
The strong performance comes as Hyperliquid’s native token, Hyperliquid, recently reached a new all-time high of $61.86. Even while much of the crypto market has struggled, HYPE has continued to outperform many major coins.
According to Bitwise, the BHYP fund now manages around $30.5 million in assets. During its first full trading week, the ETF averaged roughly $9.2 million in daily volume, showing strong investor interest in gaining exposure to the fast-growing DeFi project.
Bitwise was the second company to launch a HYPE ETF in the United States. The first was 21Shares, which introduced its own product, THYP, just days earlier.
21Shares later reported that its ETF gathered $37.2 million in assets under management within its first week. The company also revealed that it had staked 75% of the HYPE held inside the fund, allowing investors to earn additional staking rewards.
Meanwhile, Grayscale Investments is also preparing to enter the race. The company recently submitted another amendment to the U.S. Securities and Exchange Commission for its proposed HYPE ETF, which is expected to trade under the ticker GHYP if approved.
Bloomberg ETF analyst James Seyffart believes these filings suggest that more HYPE ETFs could soon launch on U.S. exchanges.
One major difference between these ETF products is how they handle staking. Bitwise manages staking internally through its own validator infrastructure, while 21Shares uses staking provider Figment to generate rewards.
Despite a slight pullback after reaching its peak, HYPE remains one of the strongest-performing cryptocurrencies this year. Over the past seven days, the token gained more than 40%, while several major assets including Bitcoin and Ethereum posted losses.
Crypto analyst Michaël van de Poppe recently predicted that HYPE could eventually climb to $100. He argued that Hyperliquid still appears undervalued, especially as traders continue looking for alternatives in the decentralized perpetual futures market.
The rapid rise of HYPE and the growing competition among ETF providers highlight how institutional interest in decentralized finance continues to expand, even during uncertain market conditions.
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