Hyperliquid ETFs Stage Strongest Crypto Debut, Beating BTC And ETH

Hyperliquid (HYPE) spot exchange-traded funds have absorbed 1.04% of the token's market capitalization in their first 10 trading days, the strongest spot crypto ETF debut on record.

Key Points:

• Spot HYPE ETFs pulled in flows equal to 1.04% of market cap in 10 days, ahead of Bitcoin at 0.59%, Ether at 0.41% and Solana at 0.31%.
• US HYPE funds hold $117.38 million in net assets, with cumulative net inflows of $95.36 million across two listed products.
• HYPE traded near $62.90 at press time after touching an all-time high above $64.

Kairos Research Findings

The reading comes from Kairos Research, which compared cumulative net flows into new spot crypto ETF issuers against each underlying asset's market value at launch.

Spot Bitcoin (BTC) ETFs absorbed 0.59% of market cap over the same 10-day window. Ether (ETH) funds reached 0.41% and Solana (SOL) products 0.31%, the firm said.

Kairos used a new-issuer cohort and stripped out GBTC and ETHE outflows, since both were legacy trust conversions rather than fresh launches. The firm also tested the figures against circulating supply and said HYPE still led under that adjustment.

Figures tracked by SoSoValue back up the picture. Total net assets across US HYPE spot ETFs stood at $117.38 million, with cumulative net inflows of $95.36 million and daily inflows of $20.45 million.