Hyperliquid’s HYPE Up 160% YTD to $73 Spurs Three ETF Launches
BHYP•HYPE token is up 160% YTD to $73 with a fully diluted valuation near $69 billion, driving the launch of three spot ETFs, as Grayscale debuted its fund June 3 and triggered a fee war. Hyperliquid processed $2.9 trillion in 2025 volume (+400% YoY) and holds $5.8 billion TVL.
1. ETF Launches Ignite Fee War
Three spot ETFs now offer regulated HYPE token exposure, with Grayscale debuting its fund June 3 and triggering a fee war among issuers to attract investors.
2. HYPE’s Strong Rally and Valuation
HYPE token has soared 160% year to date to $73, pushing its fully diluted valuation close to $69 billion, outpacing major cryptocurrencies that have declined from their peaks.
3. Hyperliquid’s Trading Volume and TVL
Hyperliquid processed $2.9 trillion in trading volume in 2025, up 400% year over year, and holds $5.8 billion in total value locked, enabled by its onchain, real-time order book.
4. Buyback Mechanism Underpins Token Demand
Protocol fees flow into an Assistance Fund that has executed over $1 billion in cumulative HYPE buybacks to date, creating a direct, mechanical link between platform growth and token price support.
