Bitwise’s Hyperliquid ETF, BHYP, pulled in $19.05 million in a single day, with nearly all of its roughly $22 million trading volume tied to direct inflows. Bitwise CEO Hunter Horsley said the session showed steady buying activity and little sign of meaningful selling pressure from large holders. For a product launched only two weeks ago in the United States, that result pushed BHYP ahead of other DeFi-linked ETF offerings.
Cumulative inflows reach about $55 million shortly after launch
Horsley said cumulative inflows have climbed to roughly $55 million, allowing Bitwise to move past rival issuer 21Shares. The pace matters. In a newly opened ETF segment, early asset gathering can quickly widen the gap between issuers before competing products build traction of their own.
Bitwise leaned on two product features to accelerate that push. The firm said it embedded a native staking mechanism into the regulated ETF structure, giving investors access to 67% of the staking rewards generated through the fund. It also temporarily cut management fees to zero during the early launch window, a move aimed at making BHYP more attractive while the market is still forming.
Hyperliquid-linked ETFs gain traction while BTC and ETH products lose ground
That momentum stood out against weaker flows in more established crypto ETFs. Citing SoSoValue, the report said Bitcoin and Ethereum ETFs have recorded combined outflows of $1.64 billion since May 2026. Over the same period, Hyperliquid-focused products such as BHYP and THYP continued drawing interest from asset managers looking for exposure to newer on-chain trading ecosystems.
The shift points to a more selective approach from institutional investors. Capital that once concentrated in Bitcoin and Ethereum products is now moving, at least in part, toward ecosystem-specific funds tied to newer blockchain networks. Based on the latest figures, Bitwise has taken an early lead in that segment through strong initial inflows, staking-linked economics, and a temporary zero-fee structure.