Bitwise Hyperliquid ETF

BHYP

Market cap $122M

Key Takeaways: Bitcoin remains dominant, but that ETF demand has become more selective toward the lowest-cost products. Hyperliquid ETFs show that investors still reward differentiated use cases, flexibility, and credible growth narratives.

As Bitcoin and Ethereum struggle, new HYPE ETFs are attracting strong inflows, backed by staking rewards and token buybacks.

A little-known segment of the cryptocurrency world is reportedly attracting attention amid a market downturn. “HYPE” exchange-traded funds (ETFs) have begun taking in new assets from investors even as the price of bitcoin falls, CNBC reported Saturday (June 6).

HYPE, or hyperliquid, ETFs attracted nearly $160 million in inflows within days of launch, even as bitcoin and ether ETFs dropped along with the prices of underlying cryptocurrencies. ETF experts say that investors are drawn to this new crypto space for its buyback model, which uses platform trading fees to repurchase HYPE tokens and creates a direct link between activity and value.

Issuers are still driving forward with crypto launches, with around 30 new products already launched so far in 2026. Understandably, net flows across the broader asset class have been weak due to pressured spot prices.