HYPE spot ETFs recorded $11.04 million in net inflows on May 19 after $4.42 million on May 18, bringing first-week combined net inflows for 21Shares THYP and Bitwise BHYP to about $22.3 million. On May 19, BHYP led with $5.71 million and THYP added $5.33 million. Bloomberg ETF analyst Eric Balchunas also said THYP rose about 20% on debut and later saw trading volume climb to tens of millions of dollars, roughly eight times its first-day level, which he described as a positive sign of growing organic interest. Analysts also said the Hyperliquid ETFs outperformed market-cap-adjusted Bitcoin ETF inflows on three of their first six trading days and exceeded Ethereum ETF inflows on five of those days.