Hyperliquid ETFs raise $150M as Bitcoin ETFs decline

Bitwise and 21shares launched BHYP and THYP ETFs tracking hyperliquid, a decentralized perpetual futures exchange on its own blockchain. The funds raised nearly $150 million with positive net inflows since launch. Grayscale launched HYPG ETF on Wednesday. Hyperliquid volume reached $1 billion daily in crude oil trading during U.S.-Iran war-related weekend access spikes. Hyperliquid attracts new investors from outside crypto ecosystem as bitcoin ETFs like IBIT drop 16% in five days.