Bitwise CEO Hunter Horsley announced that the Bitwise Hyperliquid ETF recorded approximately $19.05 million in daily inflows, marking the fund's largest single-day inflow since its May 15 debut. According to Horsley, total trading volume reached about $22 million, with most activity coming from buying rather than selling. The ETF has now become the largest Hyperliquid ETF in the world, with Horsley expressing his appreciation for the strong investor interest in the product. As per TradingView News, the $19.05 million single-day haul helped push BHYP to $62.92 million in assets under management (AUM), with the fund now holding over 1 million HYPE tokens. Cumulative net inflows into BHYP stand at $55 million, according to data on SoSoValue.
Hyperliquid (HYPE) recently broke into the top 10 cryptocurrencies by market capitalization, sitting alongside top players like Bitcoin (BTC) and Ethereum (ETH), after its price surged past $50 and set a new all-time high. The move marks the first time the token has traded above this zone since late October 2025. Currently, HYPE has extended its rally well beyond $60, with the breakout reflecting a strong shift in trading activity around the token and renewed interest in DeFi protocols and AI-backed tokens. The move also suggests that traders and investors are once again engaging more actively with Hyperliquid's perpetual futures DEX platform.
From a technical perspective, Hyperliquid (HYPE) is exhibiting a Neutral technical sentiment as of the latest analysis. The fund is currently trading below its 60-day moving average of $-$ and below its 200-day long-term moving average of $-$. Key price levels to watch include immediate resistance at $-$ and strong support at $-$. A break above **$-$ could signal a bull continuation, while falling below $-$ may test the next Fibonacci floor at $-$. The technical indicators show mixed signals with the Relative Strength Index (RSI) at -$, MACD (12, 26) at -$, Stochastic Oscillator at -$, and Commodity Channel Index (CCI) at -$, all confirming a neutral outlook for the crypto.
Bitwise CIO Matt Hougan highlighted the unique appeal of Hyperliquid's token buyback structure to financial advisors, describing the investment thesis as "magic" to discuss. "The fact that 99% of fees goes to buying back tokens makes the conversation so easy," Hougan posted on X. This structure makes the fund particularly attractive to advisors seeking transparent, fee-efficient exposure to the Hyperliquid ecosystem. The fund's performance demonstrates strong institutional and advisor interest in the tokenized liquidity model, with the 99% fee allocation creating a compelling value proposition for professional investors.
The HYPE ETF inflow surge occurred during challenging conditions for larger crypto ETF categories, with Bitcoin spot ETFs recording nearly $334 million in net outflows on May 26 and Ethereum spot ETFs seeing about $35.03 million in net outflows. Despite 21Shares' THYP drawing about $1.2 million in first-day inflows, BHYP has since pushed ahead in cumulative demand, demonstrating investors' willingness to rotate into smaller, faster-growing crypto themes during weak large-cap ETF sessions. Together, the two U.S.-listed HYPE spot ETFs have crossed $117 million in combined inflows in just 10 trading sessions, with their largest combined day reaching $25.5 million. THYP's closest rival, 21Shares' Hyperliquid ETF (THYP), which launched on Nasdaq on May 12, recorded $44 million in cumulative net inflows. The recent rally has brought renewed focus on Ethereum, with ETF flow data reflecting a shift where about $1 billion exited Bitcoin and Ethereum products while XRP and HYPE funds recorded about $94 million in combined inflows.
Despite the strong ETF performance, HYPE's price fell nearly 4% in the last 24 hours amid broader market weakness to around $60. BHYP's price edged 0.8% lower in morning trade on Wednesday, with retail sentiment around the fund on Stocktwits falling to 'bearish' from 'neutral' territory over the past day, though chatter remained at 'extremely high' levels. As per TradingView News, competition in the Hyperliquid ETF market is intensifying, with Grayscale recently filing for its own HYPE ETF. Bitwise also announced it would allocate 10% of BHYP's management fees to purchasing and holding HYPE on its balance sheet, directly mirroring Hyperliquid's own revenue model. BHYP launched on the NYSE on May 15 with a 0.34% sponsor fee, which was waived for the first month on the fund's first $500 million in assets. On-chain analytics platforms show HYPE's ultimate potential, with projections indicating the token could reach approximately $1,127 if its market capitalization of $15.99 billion surpasses Ethereum's $250.99 billion, marking a 17.92x gain from present levels.
