HYPE, the native token of perpetual futures exchange Hyperliquid, reached a new all time high on Thursday morning after surging nearly 20% over the past 24 hours to trade above $62.
The move pushed HYPE above its previous record near $59, reached in September 2025, as renewed investor demand builds around the token following new ETF launches, rising fund inflows, Coinbase-related market support, and growing interest in Hyperliquid’s HIP 3 markets.
Fueled by the latest surge, HYPE is now nearing a 143% rally year to date, extending one of the strongest runs among major crypto assets. The move has pushed Hyperliquid’s token into the upper ranks of the crypto market, with the asset climbing near the top ten by market cap and surpassing legacy tokens such as Cardano and Zcash.
Spot HYPE ETFs brought in $25.5 million in net inflows on Wednesday, up from $11 million on Tuesday and $4.4 million on Monday, according to Farside data. 21Shares accounted for $16.7 million of Wednesday’s inflows, while Bitwise added $8.8 million. Their cumulative net inflows reached $54 million over the past seven trading days since launch.
Bitwise is also implementing plans to accumulate HYPE alongside its Hyperliquid ETF offering. The asset manager said Monday that it plans to use 10% of the management fees generated from its Hyperliquid-focused ETF to acquire HYPE tokens for its own balance sheet.
