Spot HYPE ETFs Set Record for Altcoin Fund Debuts, Attract $72.38M in First 10 Days
By
Shiraz Jagati
An everything bagel for the brain. Substantive, layered, well-seasoned.
Summary
Two spot ETFs tracking Hyperliquid's HYPE token (21Shares' THYP and Bitwise's BHYP) achieved the strongest altcoin ETF debut on record, absorbing 1.04% of HYPE's total market cap in their first 10 trading days. Combined assets reached $72.38M, while a whale wallet simultaneously withdrew $30.93M in HYPE from Coinbase Prime. The funds launched on Nasdaq and NYSE in mid-May 2026 with combined opening-day volume of $6.11 million.
Key quotes
· 3 pulledTwo spot exchange-traded funds (ETFs) tracking Hyperliquid's HYPE token have set a new benchmark for altcoin fund debuts in the U.S., absorbing 1.04% of the token's total market capitalization in their first 10 trading days
The two spot HYPE funds, 21Shares' THYP, which launched on Nasdaq on May 12, and Bitwise's BHYP, which began trading on the New York Stock Exchange on May 15, logged combined opening-day volume of $6.11 million
Two spot HYPE ETFs from Bitwise and 21Shares drew $72.38M in combined assets in 10 trading days, the strongest altcoin ETF debut of 2026
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