Hyperliquid’s native token, HYPE, is extending its rally as investor demand for the protocol’s exchange-traded products intensifies. Fresh fund flows into the HYPE wrappers are driving rapid accumulation and fueling expectations for potential new catalysts in the ecosystem.

Over the last nine days, inflows into the HYPE ETFs totalled about $89 million, equating to roughly $9.2 million of buying power per day. The combined assets under management (AUM) across Bitwise’s BHYP and 21Shares’s THYP reached the $89 million mark within days of launch, underscoring one of the fastest ETF-accumulation trajectories seen in crypto investment products.

On-chain metrics align with the price and fund-flow story, as Hyperliquid has drawn more…