HYPE Spot ETF’s Market Cap Absorption Share in First 10 Trading Days Exceeds That of Bitcoin and Ethereum ETFs
According to Kairos Research data, Hyperliquid’s (HYPE) spot ETF absorbed 1.04% of its market capitalization within the first 10 trading days after launch—outperforming the debut performance of spot ETFs for Bitcoin (0.59%), Ethereum (0.41%), and Solana (0.31%) when measured by market-cap-adjusted demand. Bloomberg ETF analyst Eric Balchunas noted that 21Shares’ HYPE ETF (THYP) has surged 50% since its launch two weeks ago—growing faster than BlackRock’s Bitcoin ETF, IBIT.