U.S. spot HYPE ETFs saw $25.5 million in net inflows on Wednesday, marking their largest positive flows since launch.

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

Hyperliquid now regularly beats out Ethereum and Solana in weekly blockchain fee generation, driven largely by perpetual futures.