HYPE Token Surges Past $89 as Institutional Demand Accelerates

Hyperliquid's HYPE token has reached an all-time high of $89.67, according to Coinbase market data, following a surge in institutional demand.

The price hike comes as Wall Street names such as UBS and Jane Street hold HYPE ETFs, with Bitwise's BHYP fund having added $166.3 million of the token since its launch.

Institutional investors have been buying into Hyperliquid ETFs, with Bloomberg Intelligence analyst James Seyffart highlighting second-quarter 13F filings showing a growing roster of professional investors holding these funds.

UBS held $7.5 million in HYPE through Bitwise's BHYP, while Jane Street had $4.4 million invested in the token as of June 30.