Key takeaways
- HYPE hit a new all-time high of $75 on Tuesday, driven by surging institutional demand amid broader market weakness.
- Grayscale has advanced plans to launch the Hyperliquid ETF HYPG this week.
Hyperliquid’s native token, HYPE, rose to a new all-time high of $75.52 on Tuesday, extending its recent rally as heightened institutional interest and expanding ecosystem activity continue to drive demand.
Grayscale launch of Hyperliquid ETF
One of the main catalysts behind HYPE’s recent gains is increased competition in the exchange-traded fund (ETF) market.
Grayscale is poised to enter the race with its Hyperliquid Spot ETF after filing an amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).
James Seyphart, a Bloomberg ETF analyst, noted that the amendment indicates the possibility of launching the fund in the near future, perhaps within days.
The proposed ETF would trade under the HYPG ticker and would incur a 0.29% management fee, undercutting competing products.
Institutional appetite for HYPE has already been demonstrated by the success of Bitwise’s BHYP Hyperliquid ETF. The fund attracted nearly $20 million in inflows on Friday, marking its largest single-day inflow since its launch.
After just 11 trading days, BHYP surpassed US$100 million in assets under management (AuM), supported by cumulative inflows of US$81.8 million. The ETF also achieved an average daily trading volume of $35.1 million.
Bitwise has also joined the Hyperliquid ecosystem by committing to hold 10% of its annual management fees in HYPE tokens on its balance sheet for at least 12 months.
According to onchain analytics platform Lookonchain, Bitwise purchased an additional 336,474 HYPE tokens, worth approximately $24.4 million, over the past 24 hours.
The latest acquisition highlights the ongoing institutional accretion as investors seek exposure to the fast-growing Hyperliquid ecosystem.
Hyper Liquid Price Forecast: HYPE declines after hitting new all-time high
Despite reaching a record high of $75.52 earlier in the day, HYPE was trading at $72.28 at the time of writing, up 1% over the past 24 hours.
However, the coin remains one of the strongest performing digital assets as institutional adoption and demand associated with ETFs continues to accelerate.
The RSI at 65 shows that HYPE is bullish but has not yet entered the overbought zone, creating room for further growth.
If the uptrend continues, HYPE could extend its rally and create a new all-time high around the $80 level.
However, if the pullback extends, HYPE could retest Sunday’s low of $67. An extended downtrend could take HYPE below $60 for the first time since May 28.
