Institutional interest in Hyperliquid from traditional investors continues to grow, with recent data showing that Spot U.S. HYPE exchange-traded funds [ETFs] have already accounted for 1.04% of the asset’s total market capitalization, currently valued at $15.63 billion.
This compares favorably to Bitcoin and Ethereum ETF penetration at 0.59% and 0.41%, respectively.
Despite broader market struggles, Hyperliquid [HYPE] continues to hold above $60, with traditional investor participation playing a central role in sustaining that level.
Bitwise records a $19 million single-day HYPE purchase
Bitwise has recorded its largest single-day spot HYPE ETF purchase, according to data from SoSo Value for the trading session on the 26th of May.
The $19 million single-day purchase represented 93.15% of the total $20.45 million in HYPE ETF purchases recorded that day.
Trading volume from the Spot HYPE market showed bulls in full control during this period, with the total $22 million in volume largely absorbed by buyers in the ETF market.
Total HYPE volume has risen 44% in the past 24 hours to $1 billion, climbing alongside price and reinforcing the bullish grip on current sentiment. HYPE assets under management have now reached $30.5 million.
Bitwise CEO Hunter Horsley commented on the development, noting that
Volume today was ~$22M, which means almost all of it was buys. BHYP is now the largest Hyperliquid ETF in the world. Incredible to see investor interest.
Bitwise has now become the largest holder of a HYPE ETF, sitting just ahead of 21Shares, which also controls a meaningful portion of the market.
Notably, major asset managers, including BlackRock and Fidelity, have yet to enter the arena, remaining on the sidelines for now.
Accumulation has yet to fully expand
Despite growing institutional interest in HYPE, the Accumulation/Distribution indicator shows that there is still significant room for expansion in accumulation activity.
The A/D indicator has been moving within a consolidation range even as HYPE’s price has performed, with total volume sitting at 4.58 million.
This consolidation suggests that broader accumulation has yet to fully kick in, and the tendency for the A/D to expand into higher territory remains intact.
The Money Flow Index adds a constructive layer to this reading. The MFI, which tracks the inflow and outflow of capital into an asset, shows growing capital inflows into the HYPE market.
At press time, the MFI sits at approximately 69, firmly within the bullish zone of 50 to 80.
With HYPE well positioned within this range, the probability of the asset continuing to make higher levels remains elevated even before accumulation fully takes hold.
Spot traders takes $6.45 million profit
Profit-taking in HYPE could temporarily slow its momentum, according to CoinGlass data.
Over the past 24 hours, selling has outpaced buying in the spot market, with $45.90 million in HYPE sold across spot exchanges compared to $39.45 million in purchases, producing a net outflow of $6.45 million and confirming that selling has been dominant within this period.
This may prove to be a temporary phase, however. The three days preceding this session saw net flows consistently favor buyers, with May 26 recording the largest single-day net inflow of $11.71 million since the 7th of May.
The recent shift toward selling likely reflects investors taking advantage of the recent HYPE price upswing rather than a structural change in sentiment.
Final Summary
- Spot U.S. HYPE ETFs account for 1.04% of Hyperliquid’s $15.63 billion market cap, with Bitwise recording a $19 million single-day purchase representing 93.15% of the day’s total ETF buys.
- Spot netflow turned negative at $6.45 million as profit-taking emerged.
