HYPE surges over 15% on strong ETF inflows

The Hyperliquid token (HYPE) surged to an intraday high of $58.97 amid strong inflows into related exchange-traded funds (ETFs). The token is currently trading around $57, marking a daily gain of over 15%. According to Decrypt, market observers are highlighting that the recently launched HYPE ETF recorded $25.5 million in net purchases in a single day. This figure significantly surpasses the volume of HYPE's buyback and burn program, a factor analysts say is amplifying the token's supply reduction. Further bolstering sentiment, Bitwise announced it will use 10% of its ETF management fees to hold HYPE, signaling strong support for the project. The rally also reflects growing expectations that Hyperliquid is expanding beyond a simple derivatives exchange to become a broader on-chain financial infrastructure.