Key Takeaways
- The HYPE token established a fresh all-time high approaching $65 on May 26, 2026.
- The Bitwise BHYP ETF has amassed $40 million in total assets in slightly more than a week since debut.
- Total ETF capital flowing into HYPE products hit $89 million across nine trading days, averaging approximately $9.2 million daily.
- The platform introduced macro-focused prediction markets covering CPI releases and Federal Reserve policy decisions.
- Open interest on Hyperliquid reached $8.5 billion, positioning it as the world’s third-largest derivatives exchange.
The native token of Hyperliquid surged to a record high approaching $65 on May 26, propelled by substantial institutional ETF purchases and the platform’s expansion into prediction markets for macroeconomic events.
Bitwise’s Chief Executive Hunter Horsley revealed that the BHYP exchange-traded fund processed $12 million in trading activity within the initial two hours of market operations that morning. The investment vehicle now manages $40 million in total assets following just over a week of active trading.
An analyst account operated by Coin Bureau published data on X demonstrating the magnitude of Bitwise’s acquisition strategy: “Bitwise bought another 162,367 $HYPE, worth about $10.1M, over the past 2 hours. Based on its official website, Bitwise already held 723,361 HYPE, worth around $40.4M, as of May 21, 2026.” The figures illustrate the rapid pace at which institutional investors are entering this digital asset.
The collective capital inflows between Bitwise’s BHYP and 21Shares’s THYP products totaled $89 million across a nine-day period — representing one of the most aggressive ETF accumulation trajectories observed among cryptocurrency investment vehicles.
Grayscale is reportedly building a position in HYPE as well, presumably in preparation for its own fund launch. Market analyst Havoc forecasted that Grayscale’s forthcoming GHYP offering might contribute an additional $8 million to $12 million in daily purchases, potentially representing between 8% and 33% of the token’s circulating supply on an annualized basis.
Institutional Buying Fuels Continued Rally
The HYPE token has continued its price discovery phase since ETF trading commenced. The digital asset advanced from its previous resistance zone around $59.40, breaking through $64.50 before establishing new highs.
Provided HYPE maintains support above the $59.40 threshold, Fibonacci extension analysis suggests potential upside targets at $76, $89.50, and $101. Derivatives markets data revealed aggregate open interest nearing $2 billion, with funding rates hovering around 0.004%, signaling optimistic market positioning.
Cryptocurrency analyst Byzantine General observed that Hyperliquid’s cumulative exchange open interest climbed to $8.5 billion, securing the platform’s position as the third-largest globally, trailing only Binance and Bybit. The exchange’s market share of open interest reached 7.2%, establishing a new milestone.
Blockchain analytics indicated that Hyperliquid received more than $1.1 billion in net deposits throughout the previous month.
Platform Expands with Macro Prediction Markets
Coinciding with HYPE’s record valuation, Hyperliquid unveiled new prediction markets centered on macroeconomic indicators. The initial offerings enable trading on year-over-year May CPI figures and potential Federal Reserve rate adjustments at the upcoming June FOMC meeting.
The inflation-focused market recorded $8,000 in trading volume with $48,000 in open interest. The Fed policy market generated $600 in volume alongside $13,200 in open interest. Platform validators additionally authorized a sports prediction market for the Champions League final match.
These launches build upon the earlier HIP-4 market deployment, which features a Bitcoin daily price action contract that has accumulated $578,000 in trading volume and $180,000 in open interest.
The combined assets under management for HYPE ETF products reached $89 million as of May 26, 2026.
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