Hyperliquid ETFs Soar Past BTC and ETH in Strong Crypto Debut

Hyperliquid ETFs have made a strong debut in the crypto market, attracting significant attention and investment. According to Kairos Research, Hyperliquid (HYPE) spot exchange-traded funds absorbed 1.04% of the token's market capitalization in their first 10 trading days, outperforming other popular cryptocurrencies like Bitcoin (BTC) and Ether (ETH). In comparison, BTC ETFs pulled in flows equal to 0.59% of market cap over the same period, while ETH funds reached 0.41%.

The data from Kairos Research also shows that HYPE traded near $62.90 at press time, after hitting an all-time high above $64 earlier this week. The token's price has climbed around 26% over the past seven days and has more than doubled since the start of the year. Eric Balchunas, a Bloomberg ETF analyst, noted that 21Shares' THYP rose 50% within two weeks of launch.

The success of Hyperliquid ETFs can be attributed to the growing demand for spot crypto ETFs, which provide investors with an easy and secure way to gain exposure to cryptocurrencies. Bitwise's BHYP on the NYSE and 21Shares' THYP on Nasdaq are the two listed products in the dataset.