Hyperliquid Token Price Jumps 23% in a Day: Can The Bullish 'HYPE' Sustain?
$HYPE, the native token of decentralized exchange Hyperliquid, jumped more than 23% in the past 24 hours, climbing toward $47 on Friday to hit its highest level since October 2025. $HYPE/$USDT daily chart. Source: TradingView What is driving the sudden $HYPE rally, and does the token have enough momentum to extend its bull run in the coming days? Key takeaways:This weeks multiple US spot $HYPE ETF launches have strengthened the tokens institutional-demand narrative.Coinbase becoming Hyperliquids $USDC treasury deployer boosts $HYPE prices. $HYPE ETF launches fuel institutional demand hopes The biggest immediate catalyst behind $HYPEs rally appears to be the arrival of US-listed Hyperliquid exchange-traded products. On Friday, Bitwise launched its spot Hyperliquid ETF, trading under the ticker BHYP on the NYSE. $HYPE/$USDT daily chart. Source: TradingView The fund gives investors regulated exposure to $HYPE and intends to stake a portion of its holdings through Bitwises in-house staking division. Its sponsor fee is set at 0.34%, with a full waiver for the first month on the first $500 million in assets. The launch follows 21Shares Hyperliquid ETF, THYP, which debuted on Nasdaq on Tuesday. A day later, onchain data resource Lookonchain claimed that wallets linked to venture capital firm a16z had purchased nearly $67.5 million worth of $HYPE tokens. The purchases reportedly









