Grayscale HYPE ETF buys $5M in HYPE over two days

Grayscale's Hyperliquid (HYPE) ETF, HYPG, has purchased approximately $5 million worth of HYPE over the past 48 hours, according to analysis from crypto analyst Hupzy. Hupzy noted that Grayscale's inclusion of HYPE signals growing long-term demand, explaining that ETFs create consistent buying demand regardless of price, which helps absorb market selling pressure. While the $5 million purchase may not be substantial on its own, Hupzy suggested that if HYPG continues to see net inflows, Grayscale could emerge as a major buyer of HYPE, alongside addresses related to a16z.