Hyperliquid token gains ETF staking boost amid XRP performance debate

Hyperliquid’s native token, HYPE, has surged roughly 190% year‑to‑date and recently hit all‑time highs, driven by its fee‑buyback model that removes tokens from circulation. In contrast, Ripple’s XRP has fallen about 34% this year.

On June 16, 2026, Bitwise announced that its Hyperliquid ETF ($BHYP) is staking more than 1 million HYPE tokens, a move intended to enhance liquidity and trading activity for the token. Analysts note that the staking could stimulate volume, which has been low in the past 24 hours.

Commentary also compares the two assets, highlighting that XRP aims to serve institutional finance with regulatory tools but offers negligible token burns, while Hyperliquid’s Buy‑Back‑and‑Burn mechanism directly rewards holders. The analysis concludes that, despite the strong tokenomics of HYPE, the two tokens serve different markets and may coexist in a diversified portfolio rather than one replacing the other.