Hyperliquid's HYPE draws Wall Street interest as Bitwise's new BHYP ETF hits $40M in eight sessions

Hyperliquid's native token, HYPE, is emerging as one of the hottest names in crypto, with demand now showing up on Wall Street. Bitwise's newly launched Hyperliquid ETF, BHYP, has attracted rapid inflows, reaching roughly $40 million in assets after eight trading days on the New York Stock Exchange. The ETF rollout also appears to be translating into direct token buying. Arkham reported that Bitwise clients purchased $35.9 million worth of HYPE last week. Lookonchain separately flagged an additional $10.1 million HYPE buy tied to Bitwise-related activity. Large traders are leaning into the momentum as well. One trader opened a $9.1 million 10x leveraged long position in HYPE, positioning for further upside. The activity has revived talk around CryptoHayes' $150 price call. Competition for spot Hyperliquid ETF exposure is intensifying. Bitwise, 21Shares, Grayscale, and VanEck are all pursuing products linked to Hyperliquid.