Spot Hyperliquid ETFs launched in 2026, offering institutional exposure to the HYPE token through regulated exchange-traded products. Tracked issuers are Bitwise (BHYP), 21Shares (THYP) and Grayscale (HYPG).
Hyperliquid ETF complex has attracted +$0.3B in cumulative net flow since May 2026, with current assets under management of $0.29B across 3 issuers.
| # | Fund | Issuer | PRICE | AUM | Market share | Flow · 24h | |
|---|---|---|---|---|---|---|---|
| 1 | Grayscale HYPG | Grayscale HYPG | — | $0.13B | 44.5% | +$2.6M | |
| 2 | Bitwise BHYP | Bitwise BHYP | — | $0.11B | 38.9% | +$2.4M | |
| 3 | 21Shares THYP | 21Shares THYP | — | $0.05B | 16.6% | +$0.8M |
Hyperliquid (HYPE) ETF flows show how much money is moving into and out of spot Hyperliquid exchange-traded products each day — an early, real-time read on institutional demand for HYPE.
Hyperliquid is a high-performance blockchain built around an on-chain perpetuals exchange, and HYPE is its native token. A spot HYPE exchange-traded product gives investors regulated exposure to the HYPE price without holding the token directly: issuers create shares and buy HYPE on inflows, and redeem shares on outflows.
Three U.S. issuers run spot HYPE products: Bitwise (BHYP, 0.34% fee), 21Shares (THYP, 0.30%) and Grayscale (HYPG, 0.29%). All three listed in 2026, which makes this one of the few places to see institutional demand for Hyperliquid measured day by day — and why even small flows are meaningful here.
Because the market is so young, the flow trend is often more informative than any single day: it shows whether regulated capital is starting to treat HYPE as an allocatable asset alongside the larger crypto ETFs.
The daily net flow shows whether the products together took in money (inflow, green) or lost it (outflow, red). The cumulative line sums daily flows to approximate net capital into HYPE products since launch.
The issuer breakdown lists each product and its share. Because Hyperliquid is new, comparing its flows with Bitcoin, Ethereum, Solana and XRP helps put the scale of HYPE demand in context.
One day dominates the whole series: on 25 June 2026 Grayscale's HYPG took in $112.7m, more than every other day of every fund combined. Read the cumulative line with that in mind — a single seeding event, not a demand trend.
Flow figures are aggregated from issuer disclosures and public filings, expressed in U.S. dollars (millions), and refreshed every business day. A positive number is a net inflow; a negative number is a net outflow.
It is the net amount of money that moved into or out of spot HYPE exchange-traded products on a given day. Inflows mean shares were created and more HYPE was bought; outflows mean shares were redeemed.
Hyperliquid is a high-performance blockchain centred on an on-chain perpetual-futures exchange, and HYPE is its native token. Spot HYPE products give regulated exposure to the HYPE price.
Three: Bitwise (BHYP, 0.34% sponsor fee), 21Shares (THYP, 0.30%) and Grayscale (HYPG, 0.29%). All three are spot products listed on U.S. exchanges in 2026.
Bitwise's BHYP and Grayscale's HYPG stake part of their HYPE and keep 25% of the staking reward as a fee; 21Shares has not disclosed a staking fee for THYP. Staking is what makes HYPE products structurally different from spot Bitcoin ETFs, which hold an asset that cannot be staked.
HYPE products are among the newest crypto ETFs and there are only three of them, so their flows are one of the only direct, early signals of institutional demand for Hyperliquid.
Flows isolate long-only, regulated capital, while price reflects all trading. For a young asset like HYPE, flows are a clearer read on whether institutions are starting to allocate.
Every business day, as issuers disclose creations and redemptions. Weekends and market holidays usually show no new flow.