HYPE token sets new record high above $60 amid rising Wall Street demand for Hyperliquid

Hyperliquid's native token climbed more than 20% over the past 24 hours to roughly $61.35, according to The Block's price page.

The (HYPE) token previously peaked near $58.50 last September before falling to $21 at the start of 2026.

This made HYPE the best-performing top-100 cryptocurrency by market capitalization on Thursday by a wide margin. Other notable gainers included Mantle's MNT, up about 9%, Zcash (ZEC) rising 7%, and Worldcoin (WLD) climbing 8%. Meanwhile, larger cryptocurrencies like bitcoin, ether, and XRP were mostly flat, slipping less than 1% on the day.

The rally comes as Wall Street's appetite for Hyperliquid exposure continues to build following the launch of spot HYPE exchange-traded funds from Bitwise and 21Shares earlier this month.

U.S. spot Hyperliquid ETFs attracted a record $25.5 million in new inflows on Wednesday, according to The Block's data, bringing cumulative inflows to roughly $54 million over their first seven trading days.

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The 21Shares Hyperliquid ETF, trading under the ticker THYP, led the daily inflows with $16.7 million, while Bitwise’s BHYP added another $8.8 million.

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"Institutions appear to be seizing the opportunity. Early data shows they are piling into HYPE ETFs faster than they did into BTC ETFs on a market-cap-adjusted basis," said Peter Chung, head of research at Presto Research.

Blockchain analytics platform Lookonchain also flagged aggressive HYPE accumulation reportedly tied to Grayscale-linked wallets over the past week. According to Lookonchain, wallets linked to Grayscale purchased roughly 115,700 HYPE worth around $7 million in the span of an hour on Thursday. Over the past week, the wallets have reportedly accumulated more than 682,000 HYPE, valued at $41.6 million.

A Grayscale spokesperson later denied that the wallets identified by Lookonchain are affiliated with the firm.

Grayscale filed earlier this year for its own spot Hyperliquid ETF.

Bitwise is also implementing plans to accumulate HYPE alongside its Hyperliquid ETF offering. The asset manager said Monday that it plans to use 10% of the management fees generated from BHYP to acquire HYPE tokens for its own balance sheet, which it would also stake.