Bitwise’s spot Hyperliquid ETF (BHYP) pulled in $40 million in assets within eight trading days of its NYSE debut, fueled by an 18-fold jump in client inflows and steady on-chain accumulation by the issuer.
On May 26, a Hyperliquid (HYPE) whale opened a 10x leveraged long worth $9.1 million, signaling that high-conviction traders are chasing the rally alongside institutional flows from Bitwise’s new product.
Hyperliquid ETF Inflows Climb 18-Fold
Bitwise CEO Hunter Horsley said roughly $12 million of BHYP ETF traded in the first 90 minutes of Tuesday’s session, lifting fund assets to about $40 million just over a week after launch.
After its first five sessions, Bitwise reported $30.5 million in AUM, $26.9 million in net inflows, and $9.2 million in average daily volume.
Arkham reported on May 26 that Bitwise ETF clients bought a combined $35.9 million of HYPE during the prior week, an 18-fold jump from the first week of flows.
Lookonchain flagged an additional 162,367 HYPE buy worth roughly $10.11 million within a two-hour window, taking Bitwise’s reported holdings to 723,361 HYPE as of May 21.
The pace mirrors broader institutional HYPE demand tied to ecosystem buybacks.
Whale Bets on Continued HYPE Momentum
On the same day, Lookonchain identified wallet 0x3ed4 opening a 10x long on 142,754 HYPE worth roughly $9.1 million notional.
The position carries a liquidation price of $41.93, well below HYPE’s recent trading range.
The token printed an intraday high of $64.44 on Tuesday before settling near $61.82, up 26% over the past seven days.
The same wallet had opened a $8.24 million leveraged long on Zcash (ZEC) the prior day, fitting a broader pattern of whale-driven HYPE rallies across volatile altcoins.
Spot HYPE ETF Race Heats Up
Meanwhile, competition for HYPE exposure is intensifying. 21Shares listed its spot Hyperliquid ETF (THYP) on Nasdaq days before Bitwise’s NYSE listing, while Grayscale has filed for HYPE ETF, and VanEck has confirmed HYPE ETF plans for the US and Europe.
BHYP differentiates with native staking via Bitwise Onchain Solutions, published fund wallet addresses, and a structure that uses 10% of annual management fees to buy HYPE for the issuer’s balance sheet, held for a minimum of 12 months.
Early flows holding through the typical post-launch cooldown depend on how quickly competing issuers convert filings into live products.
The post Whales Go 10x Long on Hyperliquid as Wall Street Jumps on HYPE ETF appeared first on BeInCrypto.
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