Bitwise's Hyperliquid ETF Tops $30M AUM Within Five Trading Days

Bitwise's spot Hyperliquid ETF has crossed the $30 million mark in assets just five trading days after debut, intensifying the early contest to offer regulated access to HYPE. The Bitwise Hyperliquid ETF (BHYP) now manages $30.5 million in assets under management, the firm said. Over the same period, the fund logged $26.9 million in net inflows and averaged $9.2 million in daily trading volume. Bitwise positioned BHYP as differentiated among spot Hyperliquid ETFs, saying it is the only one that stakes assets in-house and publicly discloses the fund's wallet addresses. The issuer also said it will retain 10% of BHYP's annual management fee in HYPE on Bitwise's balance sheet, linking part of its economics to the token's performance. BHYP's launch follows 21Shares' earlier rollout of its own US-listed Hyperliquid ETF. The 21Shares product (THYP), which trades on Nasdaq, has attracted $42.7 million in inflows since launch. Demand for the two live HYPE ETFs picked up this week. On Wednesday, the pair posted their strongest daily intake so far, with combined net inflows of $25.5 million. THYP drew $16.6 million, while BHYP added $8.8 million, according to Farside data. Grayscale is also seeking entry into the space. The firm filed for a Grayscale HYPE ETF in March, proposing a trust that would hold HYPE directly. The ETF momentum helped lift HYPE to a fresh all-time high above $62 on Thursday as record inflows revived interest. The move faded into Friday afternoon, with HYPE down nearly 7% on the day and changing hands around $54.50 at the time of writing.