According to The Block's price page, Hyperliquid's native token has risen over 20% in the past 24 hours to approximately $61.35.
The HYPE token previously reached a peak of nearly $58.50 in September last year, then dropped to $21 in early 2026.
This made HYPE the top-performing cryptocurrency among the top 100 by market cap on Thursday, with a significant lead. Other notable gains included Mantle’s MNT (up approximately 9%), Zcash (ZEC) (up 7%), and Worldcoin (WLD) (up 8%). Meanwhile, larger cryptocurrencies like Bitcoin, Ethereum, and Ripple remained largely flat, with daily declines of less than 1%.
Earlier this month, Bitwise and 21Shares launched the spot HYPE exchange-traded fund, fueling this rally as demand from Wall Street for highly liquid assets continues to grow.
U.S. spot high-liquidity ETFs attracted record-breaking funds. New inflows reached $25.5 million, according to data from The Block, showing cumulative inflows of approximately $54 million over the first seven trading days.
The 21Shares Hyperliquid ETF (ticker: THYP) led daily inflows with $16.7 million, while Bitwise's BHYP added another $8.8 million.
Peter Chung, Head of Research at Presto Research, said: "Institutional investors appear to be seizing this opportunity. Early data shows that, adjusted for market capitalization, they are flowing into the HYPE ETF faster than they did into the BTC ETF."
The blockchain analytics platform Lookonchain also noted positive accumulation of hype sentiment. Associated with Grayscale the number of wallets linked over the past week.
According to Lookonchain data, wallets associated with Grayscale purchased approximately 115,700 HYPE tokens within one hour on Thursday, valued at around $7 million. Over the past week, these wallets have accumulated more than 682,000 HYPE tokens, worth $41.6 million.
GrayScale filing Earlier this year, the company launched its own spot high-liquidity ETF.
Bitwise is also implementing a plan to gradually accumulate HYPE tokens alongside the launch of its hyper-liquid ETF (BHYP). The asset management company stated on Monday that it plans to use 10% of the management fees generated by BHYP to purchase HYPE tokens. Balance sheet It will also collateralize this.