FalconX exec: Institutions shifting from BTC, ETH to HYPE

Institutional investors are shifting funds from Bitcoin (BTC) and Ethereum (ETH) to Hyperliquid (HYPE), according to Joshua Lim, head of markets at crypto prime brokerage FalconX. In an interview with CoinDesk, Lim explained that Hyperliquid's HYPE token and its platform are establishing themselves as a key liquidity hub for hedge funds and institutions. This shift comes as BTC and ETH show weakness amid macroeconomic uncertainty and spot ETF outflows, prompting speculative capital to move into HYPE, ZEC, and AI-themed tokens, he noted. Lim added that on some days, HYPE's trading volume has even surpassed that of ETH.