Hyperliquid ETFs Near $900 Million in Trading Volume After First Month

The spot ETFs on Hyperliquid are off to a flying start. After just one month of trading, the products have reached nearly $900 million in cumulative trading volume and have attracted approximately $153 million in net inflows. The early figures point to serious institutional interest in the token.

Hyperliquid is available at OKX and Bybit.

Three Products Compete for the Market

At the moment, there are three ETFs available that offer direct exposure to HYPE: THYP from 21Shares, BHYP from Bitwise, and HYPG from Grayscale. All three hold HYPE directly and distribute staking rewards to investors, making the products particularly attractive for investors seeking passive income.

In terms of trading activity, BHYP and THYP account for the lion’s share. HYPG still lags somewhat in volume, but that product also benefits from the general interest in the market. The combination of direct token exposure and staking rewards makes these ETFs more attractive than traditional crypto tracking products that do not offer yield.

Nearly Half of Supply Is Staked

In addition to the ETF performance, the staking activity on the Hyperliquid network also stands out. Currently, approximately 434 million HYPE is staked, which amounts to about 45% of the total stakeable supply. That is a remarkably high percentage and indicates that holders are overwhelmingly choosing active participation in the network instead of waiting passively.

The HYPE price is reacting positively to the news and stands at $72.70 at the time of writing, a rise of 10.7% in the past 24 hours. Whether the inflows into the ETFs will increase further now that the price is also moving remains to be seen, but the first month at least shows that there is clear demand from larger parties.