Hyperliquid's HYPE token tops $62 as ETF inflows drive record surge

The native token of the Hyperliquid perpetual futures exchange, HYPE, reached a new all‑time high above $62, climbing roughly 20% in a single day and up about 143% year‑to‑date. The price jump coincided with accelerated inflows into the platform’s newly launched spot ETFs, which attracted $25.5 million in net inflows on the latest trading day and a cumulative $54 million over the first week of their debut. Asset managers 21Shares and Bitwise account for the bulk of these inflows, with Bitwise pledging to use 10% of its ETF management fees to purchase and stake HYPE tokens on its balance sheet.

On‑chain data shows growing whale accumulation, with wallets linked to a16z Crypto, Galaxy Digital and Grayscale adding to their positions. Institutional interest is further supported by Hyperliquid’s HIP‑3 upgrade, which enables permission‑less perpetual markets tied to tokenized securities, commodities, equity indexes and pre‑IPO assets such as SpaceX and other private‑company listings. Since launch, HIP‑3 markets have generated more than $2.6 billion in open interest and over $64.6 billion in volume. The Hyperliquid protocol has processed over $4 trillion in cumulative perpetual volume and holds roughly $5.3 billion in total value locked.