The launch of Bitwise Asset Management's physically backed spot HYPE ETF has been met with significant early volume data, sparking debate about its potential as a cycle winner.
Within 48 hours of launching on the NYSE, the two US-listed HYPE ETFs recorded a 50% single-day volume surge and $25.5M in net inflows, with $8.8M attributed to BHYP alone.
These early metrics make it one of the largest altcoin ETF launches to date, raising questions about whether the Bitwise ETF premium is already priced in or if HYPE is genuinely positioned for success this cycle.