Hyperliquid-linked exchange-traded funds have pulled in more than $22 million in cumulative net inflows in their first week of trading, which analysts say is being driven by strong demand and the protocol's growing influence across crypto markets.
According to SoSoValue data, the two live U.S. spot HYPE ETFs — 21Shares' THYP and Bitwise's BHYP — have together seen roughly $22.3 million in net inflows since launching last week. The products posted their strongest session yet on Tuesday with over $11 million in inflows.
Hyperliquid ETF inflows. Source: SoSoValue
Bloomberg ETF analyst Eric Balchunas said THYP, which went live three full trading days before Bitwise's fund, has seen trading volumes climb steadily, now reaching volumes of roughly eight times its first day activity.
"The THYP Hyperliquid ETF is growing volume each day since launch ... a really good sign of organic interest," Balchunas said in a post on X. He added that Hyperliquid's strong fee generation was "probably related" to this.
