Hyperliquid (HYPE)

Arthur Hayes has weighed in on Hyperliquid’s $HYPE buyback model. He says, “When the big CEXs and TradFI come in, revenues will drop.” I can’t call it an illogical financial read, but I don’t think it’s realistic. The giant centralized exchanges, founded by the author with BitMEX and later taking the throne, have inflicted a terrible loss of confidence on investors in this market. They have even taken positions against their own clients! Today, the main reason traders pick Hyperliquid is not the fees; it’s that the funds are under users’ own control (self‑custody) and the platform is transparent. Moreover, the current PERP fees on CEXs are more expensive than Hyperliquid’s! 😅 The reason CEXs keep listing commodities, stocks, etc., one after another is the fear of falling behind $HYPE! They ignored a service the market has demanded for a long time until a serious competitor appeared and started eroding profitability! If we look at the claim that “traditional players (TradFI) will enter the perp market” … endless regulations, heavy KYC processes, and clunky infrastructure push real traditional institutions away from competitiveness. Arthur seems a bit resentful! But the change has already started – the only thing to do is adapt quickly, not to beautify the existing system. #hyperliquid #hype #btc #crypto #altcoin #coinscout

Been doing some spring cleaning and consolidation. The fab 4. Plus a sprinkle of microcap clankers and some JPG’s. https://t.co/8RvPZyvAQb

Three spot @HyperliquidX ETFs launched within weeks, attracting over $155M in inflows and marking one of the strongest altcoin ETF debuts to date. But this is bigger than a typical ETF launch, as it tests whether yield-bearing crypto products can attract institutional capital at scale. Here's what's actually happening: — ● What are $HYPE ETFs (Exchange-Traded Fund) ETFs allow investors to gain exposure to an asset through traditional brokerage accounts without directly interacting with the underlying asset. HYPE ETFs give investors exposure to Hyperliquid's native token while removing the need to manage wallets, self-custody, exchanges, or staking infrastructure. • $THYP ( @21shares ) - Launched May 12, 2026 • $BHYP ( @Bitwise ) - Launched May 15, 2026 • $HYPG ( @Grayscale ) - Launched June 3, 2026 Three issuers launched competing products within weeks, signaling growing institutional demand for Hyperliquid exposure. — ● Comparing the 3 HYPE ETFs All three ETFs offer spot HYPE exposure and staking rewards, but each issuer is taking a different approach to capturing institutional demand. • $THYP Launched by 21Shares, THYP was the first HYPE ETF to reach the U.S. market with a 0.30% management fee and staking-enabled exposure. THYP relies on Figment for staking and distributes roughly 70% of staking rewards back to investors. • $BHYP Bitwise launched BHYP with a 0% promotional fee before transitioning to a 0.34% management fee. BHYP operates its own validator and passes 85% of staking rewards to the fund, giving investors the highest reward share among the three products. • $HYPG Grayscale entered the market last with HYPG, combining direct HYPE exposure with staking rewards. At 0.29%, HYPG offers the lowest permanent fee, highlighting how aggressively issuers are competing for institutional flows. — ● Why $HYPE ETFs Are Different The real innovation is the introduction of staking-enabled ETFs that combine token exposure with staking rewards. Unlike BTC ETFs, which only provide exposure, HYPE ETFs create a new category of yield-bearing crypto products. Early adoption has been strong: • $155M+ net inflows in less than a month • $100M+ absorbed in the first 9 trading sessions • Multiple $20M+ inflow days • No meaningful early outflow streaks More importantly, the ETFs absorbed 1.04% of HYPE's market cap, outperforming $BTC (0.59%), $ETH (0.41%), and $SOL (0.31%) at comparable stages. This is why many view it as one of the strongest crypto ETF debuts, driven by adoption relative to asset size rather than total inflows. — ● Why $HYPE Held Through Unlocks Normally: Unlocks -> More supply -> Price pressure Instead, $HYPE remained resilient despite a ~$700M unlock. A combination of ETF demand, protocol buybacks and staking demand helped absorb new supply entering circulation. The ability to absorb a major unlock without a sustained selloff suggests demand is becoming increasingly structural rather than purely speculative. — The story may still be in its early stages, with VanEck's proposed $VHYP ETF signaling continued institutional interest. More importantly, ETFs create a new source of demand: ETF inflows -> Issuers buy $HYPE -> Tokens are removed from circulation -> Tokens are staked. This is the core thesis behind the ETF narrative that a new source of demand entering the Hyperliquid ecosystem.

hyperliquid:native 12H 👀 Swept out the low inside support and is now moving up. I'm looking for a move up into the $68-$75 resistance now. https://t.co/RVXLlEYSeg

Hyperliquid whales hold slightly more short positions. https://t.co/fbhMUs0BDu

one of the best ways to gauge hyperliquid's trajectory is open interest (oi) hype's share of oi vs cexes and competing dexes is literally up-only you can fake volume but its much harder to fake open interest hyperliquid dominates the field in both 3-digit $hype is only a matter of time

Hyperliquid (hyperliquid:native) has generated over $1.15B in all-time revenue. 99% of protocol fees are directed to the Assistance Fund, which uses that revenue to buy back $HYPE from the open market. these bought-back tokens are then periodically retired through voted burns, reducing circulating supply and accruing value to token holders. the Assistance Fund now holds more than 45M HYPE, worth roughly $2.77B at current prices. that’s about 4.5% of the total supply effectively removed from circulation, while the buyback mechanism remains dynamic and continuous. the more i look at it, the more i appreciate the design. the business model works and the token value retention mechanism is arguably one of the strongest we’ve seen in crypto. it’s hard not to respect what Jeff and the team have built here.