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HYPE Climbs Above $62 to a New Record as ETF Inflows Accelerate

HYPE Climbs Above $62 to a New Record as ETF Inflows Accelerate

HYPE rose above 60 USDT on May 21 and later exceeded $62 as Hyperliquid-linked ETFs attracted strong inflows, while Bitwise’s BHYP topped $30 million in assets and trading volume amid rising issuer competition.

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Fact Check
All key elements of the claim are strongly corroborated by multiple independent sources. The $25.46 million figure is confirmed precisely by Odaily (482992) citing SoSoValue data (2546.32万美元 = $25,463,200), and rounded to $25.5M by The Block and Odaily (483136). The claim that this surpassed the previous five days combined is explicitly confirmed by Odaily (483136), which states Wednesday inflows of ~$25.5M exceeded the prior five-day total of $22.35M. The Bitwise 10% management fee detail is confirmed by both Odaily (483136) and CryptoRank. The breakdown by fund (21Shares THYP leading at ~$16.7M, Bitwise BHYP at ~$8.8M) is consistent across The Block and Odaily (482992). No conflicting evidence was found.
Summary

HYPE extended its rally from above $50 to above 60 USDT on May 21 and later above $62, setting a new all-time high as demand around Hyperliquid accelerated. Hyperliquid-linked spot ETFs recorded $16.15 million in net inflows on May 21, led by the Bitwise Hyperliquid ETF at $8.44 million and the 21Shares Hyperliquid ETF at $7.71 million, lifting total net assets to $81.13 million within nine days and cumulative inflows to $63.96 million after a record $25.46 million of net inflows on May 20. Bloomberg ETF analyst Eric Balchunas said 21Shares’ Hyperliquid ETF THYP saw trading volume rise from $1.8 million on its first day to about $14 million by May 19, while another report put daily volume at about 2.2 billion yen. According to Bitwise CEO Hunter Horsley, BHYP also recorded more than $30 million in same-day trading volume and surpassed $30 million in assets, while Bitwise published wallet addresses showing about $19.78 million in HYPE that it said was fully staked. Reporting additionally cited adjusted inflow strength versus Bitcoin products, DeFi-native speculation, and Grayscale’s pursuit of a competing Hyperliquid ETF as factors drawing attention to the market.

Terms & Concepts
  • Spot ETF: An exchange-traded fund that holds or aims to track the current market price of the underlying asset directly rather than using futures contracts.
  • Onchain verification: The process of checking activity directly on a blockchain through public records rather than relying only on company disclosures.
  • Assets under management: The total market value of assets managed by a fund or investment product, often used to measure investor demand and product scale.