Three US-listed spot HYPE ETFs have attracted $161 million in net inflows during their first month of trading on Nasdaq, signalling growing institutional appetite for exposure to Hyperliquid's on-chain perpetuals exchange. Since THYP's launch, only one outflow session has been recorded — a $2.9 million redemption from BHYP on June 5 — with every other trading day closing positive. The near-perfect flow record is partly attributed to the ETFs' access mechanics, which lower the barrier for traditional investors seeking indirect exposure to HYPE, the native token of the decentralised exchange protocol. The strong early performance mirrors the institutional interest seen in Bitcoin and Ethereum ETFs and suggests Wall Street is increasingly willing to bet on on-chain infrastructure plays beyond the two largest cryptocurrencies.
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