Hyperliquid's HYPE token crossed $50 on Wednesday for the first time since September 2025, fueled in part by a high-profile call from Bitwise's chief investment officer.

HYPE tokens surged over 5% on Monday after Bitwise’s spot ETF debut on NYSE Arca offset regulatory pressure instigated by CME and ICE.

Bitwise will hold HYPE from Hyperliquid ETF fees as HYPE funds pass $5.6M in inflows after 21Shares and BHYP launches.