The US spot HYPE ETF has made a strong debut in the market, with net aggregate inflows reaching 1.04% of its market cap in just ten days. This impressive performance makes it the strongest debut of any spot crypto ETF to date, according to data from Kairos Research.
Compared to other spot crypto ETFs, HYPE has seen nearly double the relative demand as a percentage of market cap, with cumulative net inflows reaching $95 million. The strong demand for HYPE has also lifted its price to a new all-time high (ATH) of $64.9.
The surge in demand is expected to continue, with Falcon X predicting that HYPE will benefit from the above ETF flows and treasury firms' demand for commodities and prediction markets. Additionally, the Circle deal will be a key catalyst for the ecosystem and its native token HYPE.