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Hyperliquid ETF Inflows Grow 8x Since Launch
Bitwise and 21Shares are the only live HYPE ETFs so far, with inflows growing 8x since day one and VanEck and Grayscale filings still pending.
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Daily net inflows for the first Hyperliquid ETFs have grown roughly 8x since launch, reaching about $11 million on May 19, with total net assets crossing $30 million as HYPE trades at about $51.31.
What's the Scoop?
- Hyperliquid's Fee Engine: The ETF launch comes as Hyperliquid generates and caputres 43% of all onchain fees, roughly $11 million weekly, according to the Block, as perpetual futures continue to out-monetize nearly everything else onchain.
- The Two Live ETFs: Bitwise and 21Shares are the only Hyperliquid ETFs currently trading, both providing staking. Bitwise charges a 0.34% management fee versus 21Shares at 0.30%. Today, Bitwise published the onchain addresses where it holds its HYPE, adding a layer of transparency to its holdings. Bitwise has also committed to directing 10% of all fees generated from its ETF toward buying HYPE.
- More ETFs Coming: VanEck and Grayscale have both filed for Hyperliquid ETFs. Neither is live yet.
The Hyperliquid ETF $THYP is growing volume each day since launch in the tens of millions now, 8x over Day One, which is really good sign of organic interest. It also went up 20% right out of the gate, that def helps the cause. Now can someone pls pass me a glow stick. pic.twitter.com/vwNpxieAsK
— Eric Balchunas (@EricBalchunas) May 20, 2026