Two recently launched US exchange-traded funds linked to Hyperliquid’s HYPE token are off to a strong start. New data suggests that the funds have reached a milestone in just 10 days of trading that Bitcoin, Ethereum, and Solana ETFs failed to match. Strongest Crypto ETF Debut Yet Kairos Research said spot HYPE ETFs absorbed 1.04% of HYPE’s market cap in just their first 10 trading days. The firm called it the strongest debut for any spot crypto ETF so far. To put things into perspective, spot Bitcoin ETFs reached 0.59%, while that of Ethereum stood at 0.41%, excluding GBTC and ETHE outflows. Meanwhile, spot Solana ETFs came in at 0.31%. 21Shares’ THYP and Bitwise Asset Management’s BHYP have together pulled in more than $95 million in net inflows within weeks of launching. Bloomberg ETF analyst Eric Balchunas had previously described the timing of the launches as “perfectly timed.” THYP, which launched on May 12 on Nasdaq, became the first HYPE-related ETF available in the US market and has attracted $44 million in net inflows as of May 26. BHYP followed two days later on May 14 and has already recorded $55 million in net inflows, according to data compiled by SoSoValue. The funds have recorded nine straight days of inflows, with no single day of outflows during the entire period. On Tuesday alone, Bitcoin and Ethereum ETFs collectively shed almost $370 million, while Solana funds recorded no flows for the day. Sharp Monthly Gains Strong inflows into HYPE ETFs have coincided with a steep rise in the underlying token’s price. While leading crypto assets have failed to establish a solid uptrend this month, HYPE has gained close to 50% during the same period. At the time of writing, the token is trading near $62.31. On-chain activity revealed one trader who made a well-timed move on this run-up. According to Lookonchain, a trader created a new wallet 46 days ago and used $5 million in USDC to buy HYPE. After holding the position for over a month, they sold all their HYPE on Tuesday for $7.51 million. The trade resulted in a profit of a whopping $2.51 million in just 46 days. The post Spot HYPE ETFs Just Crushed Bitcoin and Ethereum ETF Debuts appeared first on CryptoPotato .
