Wall Street · U.S. · CryptoSlate
HYPE ETFs quietly pulled $161 million in one month as Wall Street acquires crypto’s on-chain exchange bet
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One month after THYP launched on Nasdaq, the three US-traded spot HYPE ETFs have pulled in $161 million in net inflows.
Key facts
- The open interest is currently $8.6 billion, with annualized fees exceeding $1 billion and annualized revenue near $886 million
- CoinGlass reported nearly $493 billion in derivatives volume for the first quarter, and DefiLlama's cumulative figure has moved to roughly $443 billion
- BHYP's own page reports $93.53 million in AUM, 1.587 million HYPE held as of June 10, a 2.25% gross staking reward rate, a 1.18% net staking reward rate, and 70% of assets currently staked
- HYPE itself hit an all-time high of $75.48 on June 2, is up roughly 160% year-to-date, and trades around $61 as of this writing, giving the protocol a fully diluted valuation approaching $69 billion
Summary
01 Three US spot HYPE ETFs have drawn $161 million in net inflows one month after THYP launched on Nasdaq. 02 The flows matter because Hyperliquid's restricted US access makes ETFs the main way Americans can buy HYPE, while fees fund buybacks. 03 The key risk is whether trading volume, buybacks, and inflows can keep absorbing unlocks if revenue and demand slow. June 5 was the only session to register an outflow, a $2.9 million redemption from BHYP, and every other trading day has closed in the green.