HYPE ETFs Surpass Bitcoin and Ethereum in Early Performance

The cryptocurrency market has seen significant developments with the launch of two exchange-traded funds (ETFs) linked to Hyperliquid's HYPE token.

According to recent data, these spot ETFs have reached a milestone in just 10 days of trading that Bitcoin and Ethereum ETFs failed to match. The funds have recorded nine straight days of inflows, with no single day of outflows during the entire period.

The strong performance of HYPE ETFs has coincided with a steep rise in the underlying token's price. While leading crypto assets have struggled to establish a solid uptrend this month, HYPE has gained close to 50% during the same period.

A trader's well-timed move on the run-up has also been revealed. A user created a new wallet 46 days ago and used $5 million in USDC to buy HYPE. After holding the position for over a month, they sold all their HYPE on Tuesday for $7.51 million, resulting in a profit of $2.51 million.