HyperLiquid’s HYPE Token Jumps 77% in 2026 Amid ETF Launch and US Partnerships

The HYPE token of the HyperLiquid platform rose to $48.39, its highest level since October 2025 and up from a yearly low of $20. The surge lifted its market capitalisation to $12.3 billion, with a fully diluted valuation of $46 billion. Daily trading volume exceeded $700 million and open interest topped $8 billion, while open interest in real‑world‑asset positions surpassed $2 billion.

HyperLiquid now manages over $170 billion in monthly trading volume and has generated roughly $170 billion in assets under management in the past 30 days. The platform’s fee structure returns 99 % of trading fees to token buy‑backs, creating an automatic accumulation mechanism.

Coinbase and Circle have agreed to stake HYPE and activate the AQAv2 treasury‑deployer on USDC, deepening the token’s integration with US‑based infrastructure. Asset manager Bitwise launched a HYPE‑linked ETF and announced that a portion of the fund’s management fees will be used to buy the token, reinforcing its view that HYPE remains undervalued despite a 77 % YTD gain.

Bitwise’s analysis highlights HyperLiquid’s ambition to evolve into a “super‑app” covering crypto, equities, commodities, currencies and structured products, targeting a global addressable market of $600 trillion. Successful regulatory integration in the United States is seen as a key catalyst for broader institutional adoption.