$HYPE Defies Crypto Market Weakness with Resilient Price

Crypto markets have been under pressure from weak investment flows in recent weeks. According to Luke Nolan, senior research associate at Coinshares, crypto has received ‘very little help from flows recently’.

U.S. spot bitcoin ETFs have recorded eight straight weeks of outflows, the longest streak since launch. More than $6.5 billion has exited those funds since May, while ethereum ETFs have also weakened during the same period.

Despite this weakness, Hyperliquid has remained resilient, with its native token, $HYPE, trading near its all-time high. Three spot ETFs now track $HYPE, which is used to generate yield through staking.

The Bitwise Hyperliquid ETF (BHYP) was the first to launch, followed by the 21Shares Hyperliquid ETF (THYP), which tracks the FTSE Hyperliquid Index. The Grayscale Hyperliquid Staking ETF (HYPG) is the newest fund, offering brokerage access to $HYPE.