Spot HYPE ETFs Pull in Over 1% of Market Cap Within 10 Trading Days
Highlights:
- Spot HYPE ETFs have captured 1.02% of Hyperliquid’s market cap after trading for just ten days.
- HYPE funds’ debut exceeded that of top crypto ETFs like Bitcoin, Ethereum, and Solana.
- HYPE’s price has attained a new all-time high (ATH) amid rising investor interest.
Crypto research firm Kairos Research reported that spot Hypeliquid (HYPE) exchange-traded funds (ETFs) have attained new heights after trading for just 10 days. Within the specified period, HYPE ETFs captured 1.02% of Hyperliquid market capitalization, highlighting strong early demand from the funds’ investors.
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Digital asset management firms 21Shares and Bitwise launched the first two Hyperliquid ETFs earlier this month. 21Shares HYPE ETF was officially launched on May 12. It started trading on the same day, with the market ticker THYP on Nasdaq, one of America’s largest stock exchanges. A few days later, specifically on May 14, Bitwise HYPE ETF launched on the New York Stock Exchange (NYSE) under the market ticker BHYP. It started trading the next day.
Spot HYPE ETFs Absorb 1.04% of Market Cap in First 10 Trading Days
According to Kairos Research, spot HYPE ETFs have absorbed 1.04% of HYPE's total market capitalization within their first 10 trading days, marking the strongest debut of any spot crypto ETF to date. In… pic.twitter.com/WAnO0Scdpv
— Wu Blockchain (@WuBlockchain) May 27, 2026
How HYPE Funds Performed Against BTC, ETH, and SOL ETFs
Kairos Research described HYPE funds’ first ten trading days as the strongest debut of any spot crypto ETF to date. In comparison, only Bitcoin ETFs were able to capture up to 0.5% of the asset’s market cap after trading for ten days. For context, Bitcoin spot ETFs absorbed 0.59%, while Ethereum ETFs captured only 0.41%. Solana ETFs managed to pull in just 0.31% of its market capitalization.
Bitcoin ETFs launched in January 2024. So far, the funds’ total net asset valuation sits at $98.4 billion, accounting for 6.45% of Bitcoin’s $1.5 trillion market cap. Ethereum funds debuted in July 2024 and have amassed $11.79 billion in total net asset valuation.
However, this figure accounts for just 4.7% of its $250.2 billion market cap. Solana ETFs launched in October 2025. As of May 26, 2026, its total net asset valuation is $959.06 million, accounting for just 1.98% of its $48.4 billion market capitalization.
Spot hyperliquid:native ETFs have absorbed 1.04% of HYPE's market cap in their first 10 trading days
Strongest debut of any spot crypto ETF to date
HYPE: 1.04%
BTC: 0.59%
ETH: 0.41%
SOL: 0.31%(new-issuer cohort, GBTC/ETHE outflows stripped due to them being legacy trust… pic.twitter.com/XBu46IJGxn
— Kairos Research (@Kairos_Res) May 27, 2026
Spot HYPE ETFs Maintain Daily Inflows Streak
On May 26, THYP and BHYP attracted $20.45 million in net inflows, according to SosoValue’s statistics. BHYP added $19.05 million, while THYP brought in only $1.41 million. Despite launching earlier than BHYP, THYP’s cumulative net inflow sits at $44 million, while BHYP has attracted $55 million. Since their inception, HYPE ETFs have been recording only net inflows.
The highest daily net inflow came on May 20. It was worth roughly $25.46 million. On the other hand, the lowest inflow was on May 12. Only THYP was trading then, and it attracted $1.17 million. Overall, spot HYPE ETFs’ cumulative net inflow is $95.36 million. In addition, the total value traded and net asset valuation are $53.76 million and $117.38 million, respectively.
HYPE’s Price Continues to Surge Amid the Crypto Market’s Persistent Decline
At the time of press, the crypto market is 1% up in the past 24 hours, with a market capitalization of $2.619 trillion and a trading volume of $96.418 billion. Within the same period, HYPE’s price has spiked 3% and is changing hands at approximately $62.24. On CoinGecko, the asset ranks 11th with a market cap of $13.8 billion and a trading volume of $1.1 billion.
Outstanding token value sits at $35.9 billion, while the fully diluted valuation is $59.5 billion. Week-to-date, month-to-date, and year-to-date price change variables show that HYPE surged 29.2%, 46.3%, and 65.3%, respectively. The asset is only 3.4% below its $64.44 peak price attained roughly 17 hours ago.
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Chinedu Agbakwusi
Chinedu Agbakwusi is a news writer and editor for Crypto2Community. He is a crypto enthusiast with vast experience across several crypto-related projects and platforms. Chinedu has been following the development of the crypto market for several years, and he is optimistic about its potential to democratise the global financial system. He hopes to be a reliable plug for reporting trends and breaking down complex concepts to his readers. Agbakwusi's previously written for several crypto news including Times Tabloid, UPay, while also contributing over the years to many others leading media publications.
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