Two spot HYPE altcoin ETFs, 21Shares’ THYP and Bitwise’s BHYP, launched in May 2026 and together raised $72.38M, making the strongest altcoin ETF debut of the year. Combined opening-day volume reached $6.11M, near the $6.41M debut volume from eight other 2026 altcoin ETF launches combined. Within five trading days, BHYP surpassed $30.5M in assets under management, while THYP recorded $10.6M in cumulative inflows across its first four days. The ETFs absorbed 1.04% of HYPE’s $15.28B market cap in 10 days, outpacing early bitcoin and ether ETF inflow metrics. A new wallet withdrew $30.93M in HYPE from Coinbase Prime on May 27, indicating accumulation outside exchange custody. BHYP charges a 0.34% sponsor fee and THYP charges 0.30%, with early fee waivers for initial assets.
"21Shares' THYP and Bitwise's BHYP drew a combined $72.38M, marking the strongest altcoin ETF debut of 2026 by far. Kairos Research data shows HYPE ETFs absorbed 1.04% of the token's $15.28B market cap in 10 days, outpacing bitcoin and ether ETF debut metrics. A new wallet withdrew $30.93M in HYPE from Coinbase Prime on May 27, signaling fresh institutional accumulation outside of exchange custody."
"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. That figure came within striking distance of the $6.41 million in debut-day volume generated by all eight other 2026 altcoin ETF launches combined. Within five trading days, Bitwise's BHYP crossed $30.5 million in assets under management (AUM), while 21Shares' THYP recorded $10.6 million in cumulative inflows across its first four days of trading."
"Moreover, the two ETFs collectively absorbed 1.04% of HYPE's total market capitalization in their first 10 trading days, a pace that surpasses the early inflow trajectories of both spot bitcoin and ether ETFs when they launched in the U.S. Hyperliquid has emerged as the leading venue for perpetuals trading in decentralized finance ( DeFi), with its native HYPE token currently trading at $62 with a market capitalization of $15.57 billion, making it the tenth-largest crypto asset globally, a milestone the token reached in under two years of trading."
"BHYP carries a 0.34% annual sponsor fee, waived during the first month on the fund's first $500 million in assets, while THYP charges a 0.30% annual fee. Whale Pulls $30.93M Off Coinbase Prime Alongside the ETF momentum, a newly create"
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