UBS & Jane Street Invest $75M in Hyperliquid HYPE ETFs

Major traditional finance players are quietly building exposure to Hyperliquid through structured products. According to Bloomberg, several leading firms have already accumulated $75 million in ETFs backed by the HYPE token.

This institutional positioning in a native DeFi protocol marks a significant milestone in the adoption of decentralized assets by the most conservative players in the financial sector.

Who are these investors, how much do they hold, and what does this move say about institutional appetite for DeFi in 2025?

UBS, Jane Street and the Rest: Who Holds HYPE ETFs?

According to data compiled by Bloomberg, several major financial institutions are among the holders of ETFs exposed to Hyperliquid‘s HYPE token. Among them are UBS and Jane Street — two names that embody, respectively, Swiss private banking and elite algorithmic market making.

The largest identified holder is, however, neither American nor European: it is Wealth High Governance Asset Management, a Brazilian asset manager. The firm held approximately $24 million in shares of 21Shares‘ HYPE fund as of end of June, making it the leading institutional shareholder of this product. This positioning from Latin America reflects a broader trend: emerging markets are embracing crypto ETFs with an aggressiveness that Western markets have yet to match.