While investors are opting out of ETFs focused on the two largest cryptocurrencies, some are adding ETFs of alternative coins, chief among them being hype, the native token for Hyperliquid. 

Digital asset managers 21shares and Bitwise rolled out hype ETFs last week and have yet to notch any outflows. Tuesday saw the highest level of inflows so far at over $11 million, outpacing XRP and solana ETFs’ combined inflow of nearly $5.3 million. Meanwhile, bitcoin and ethereum saw $393 million exit their funds yesterday, according to SoSoValue.

Bloomberg senior ETF analyst Eric Balchunas noted the 21shares Hyperliquid ETF “is growing volume each day since launch in the tens of millions now, 8x over…