Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs shed over $1.4 billion last week as capital rotated into altcoin ETF products chasing newer narratives. Bitcoin ETFs Lost $1.26B, Total Assets Dipped Below $100B Spot Bitcoin ETFs posted $1.26 billion in net outflows last week, bringing the two-week total to more than $2.2 billion.
On Tuesday, the Hyperliquid token (HYPE) surged to a new all-time high of $65, briefly propelling the cryptocurrency into the top ten by market capitalization and drawing fresh attention to the platform's underlying momentum. Grayscale Research released a new report 24 hours later on Wednesday, breaking down why Hyperliquid has worked so well so far, what has helped it expand beyond crypto trading, and what investors may look for next.
HYPE has pushed above $60 to set a new all-time high, creating a bullish environment that stands in sharp contrast to the broader market struggling with selling pressure and uncertainty. The breakout is significant on its own — but data from Kairos Research has revealed a development in the ETF market that places the current momentum in a historical context that amplifies the significance of the price action considerably.
Hyperliquid's HIP-4 adds binary options, closing the gap between onchain and traditional trading.
Grayscale Research cast Hyperliquid as a standout DeFi contender with potential to scale into a major on-chain financial services platform. Its report points to trading growth, exchange-style network effects, and token mechanics linked directly to platform demand.
Bitwise Asset Management launched its HYPE ETF on the NYSE on May 15, 2026, and the money came fast. Within two days, the fund pulled in $25.5 million in net inflows — $8.8 million of that from Bitwise's own BHYP fund.
Bitwise is going all in on Hyperliquid, keeping the asset above sustained levels.
HYPE ETFs have topped $100 million in cumulative net inflows within their first 10 trading sessions, giving Hyperliquid another institutional demand channel as interest in altcoin funds expands.
Hyperliquid (HYPE) recently broke into the top 10 cryptocurrencies by market capitalization, sitting alongside top players like Bitcoin (BTC) and Ethereum (ETH), after its price surged past $50 and set a new all-time high. Now, on-chain analytics platforms are showing what HYPE's ultimate price could become if it surpasses Ethereum's market cap.
HYPE could consolidate recent gains above $60 before attempting to eye $80.
Spot HYPE ETFs absorbed 1.04% of Hyperliquid's market cap during their first 10 days of trading. That ratio surpasses the debuts of Bitcoin (0.59%), Ether (0.41%) and Solana (0.31%) ETFs, according to Kairos Research's market cap-adjusted metric. In the week of May 22, the product led net flows among altcoin ETFs with $68.
Hyperliquid hit $800M revenue and $13B market cap without VC funding or U.S. access