Bitwise’s spot Hyperliquid ETF (BHYP) pulled in $40 million in assets within eight trading days of its NYSE debut, fueled by an 18-fold jump in client inflows and steady on-chain accumulation by the issuer.

On May 26, a Hyperliquid (HYPE) whale opened a 10x leveraged long worth $9.1 million, signaling that high-conviction traders are chasing the rally alongside institutional flows from Bitwise’s new product.

Bitwise CEO Hunter Horsley said roughly $12 million of BHYP ETF traded in the first 90 minutes of Tuesday’s session, lifting fund assets to about $40 million just over a week after launch.

~$12,000,000 of volume traded on $BHYP in the first 90 minutes so far today.

Now $40,000,000 AUM, just over a week since launch.

Investors want exposure to Hyperliquid.

Grateful to those that choose to invest with Bitwise. https://t.co/It68WumlTd

After its first five sessions, Bitwise reported $30.5 million in AUM, $26.9 million in net inflows, and $9.2 million in average daily volume.

Arkham reported on May 26 that Bitwise ETF clients bought a combined $35.9 million of HYPE during the prior week, an 18-fold jump from the first week of flows.

BITWISE IS BUYING HYPE

Bitwise ETF clients purchased a total of $35.9M HYPE last week. That’s an 18x increase from the week before, when Bitwise ETF flows began.

BHYP launched on the New York Stock Exchange on May 15, 2026, and is the first HYPE ETF to be natively staked by the… pic.twitter.com/5gEbkKNQxd

Lookonchain flagged an additional 162,367 HYPE buy worth roughly $10.11 million within a two-hour window, taking Bitwise’s reported holdings to 723,361 HYPE as of May 21.

The pace mirrors broader institutional HYPE demand tied to ecosystem buybacks.

On the same day, Lookonchain identified wallet 0x3ed4 opening a 10x long on 142,754 HYPE worth roughly $9.1 million notional.

Whale 0x3ed4 just chased the pump and opened a 10x long on 142,754 $HYPE($9.1M).

Liquidation price: $41.93

Yesterday, this whale also opened a 10x long on 13,356 $ZEC($8.24M).https://t.co/S20iPpJYVg pic.twitter.com/d5HCaW0NxG

The position carries a liquidation price of $41.93, well below HYPE’s recent trading range.

The token printed an intraday high of $64.44 on Tuesday before settling near $61.82, up 26% over the past seven days.

The same wallet had opened a $8.24 million leveraged long on Zcash (ZEC) the prior day, fitting a broader pattern of whale-driven HYPE rallies across volatile altcoins.

Meanwhile, competition for HYPE exposure is intensifying. 21Shares listed its spot Hyperliquid ETF (THYP) on Nasdaq days before Bitwise’s NYSE listing, while Grayscale has filed for HYPE ETF, and VanEck has confirmed HYPE ETF plans for the US and Europe.

BHYP differentiates with native staking via Bitwise Onchain Solutions, published fund wallet addresses, and a structure that uses 10% of annual management fees to buy HYPE for the issuer’s balance sheet, held for a minimum of 12 months.

Early flows holding through the typical post-launch cooldown depend on how quickly competing issuers convert filings into live products.

The post Whales Go 10x Long on Hyperliquid as Wall Street Jumps on HYPE ETF appeared first on BeInCrypto.

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