Hyperliquid Spot ETF Sees Inflow of $255 Million in a Single Day, Setting a New Record

The US spot Hyperliquid ETF recorded a net inflow of $25.5 million on Wednesday, setting the highest single-day record since its launch. Farside data shows that this figure has been climbing continuously from $4.4 million on Monday to $11 million on Tuesday. Within seven trading days since its launch, the cumulative net inflow of the Hyperliquid spot ETF has reached $54 million.

The 21Shares Hyperliquid ETF, listed on May 12, attracted $16.7 million on Wednesday, higher than $5.3 million on Tuesday; the Bitwise Hyperliquid ETF, traded on May 14, had a single-day net inflow of $8.8 million. According to Peter Chung, head of research at Presto Research, the speed at which institutional funds are flowing into HYPE ETFs, adjusted for market value, is faster than those that entered Bitcoin ETFs in the early days.

Driven by funds, the price of the HYPE token rose by 17.3% to $55.91 within 24 hours, with the overall market value reaching $13.4 billion. Its fully diluted valuation once touched $54.7 billion, briefly surpassing Solana's $54.2 billion.

The core reason for institutional interest in this asset lies in its clear revenue logic. This week, Hyperliquid has captured about 42% of the total blockchain transaction fees, surpassing TRON's 22.6% and Ethereum’s 8%. Jeff Ko, Chief Analyst at CoinEx, pointed out that unlike Bitcoin, which serves as a store of value, or Ethereum, which depends on staking rewards, HYPE is closer to exchange equity with cash flows. The platform uses most of the transaction fees for token buybacks in the open market, providing investors with a more familiar valuation framework.