Hyperliquid ETFs Draw In $172M Since Launch as HYPE Hits All-Time High

U.S. spot Bitcoin ETFs have experienced outflows totaling nearly $5.6 billion since the launch of Hyperliquid ETFs, indicating a significant market divergence. Despite these broader outflows, Hyperliquid ETFs themselves have attracted $172 million in new assets under management since their inception. This inflow has contributed to the HYPE token, the native cryptocurrency of the Hyperliquid exchange, reaching an all-time high. The exchange reported that the total value locked (TVL) on its platform surpassed $1.1 billion on June 11, 2024. This surge in TVL is attributed to the growing popularity of its perpetual futures trading, which has seen a substantial increase in volume. The performance of Hyperliquid ETFs and the HYPE token suggests a growing investor interest in alternative cryptocurrency investment vehicles, even amidst a broader trend of capital withdrawal from established spot Bitcoin ETFs.