Grayscale Buys 510,387 HYPE Worth $24.95M in Past Week, Staking Tokens Amid ETF Inflows

According to onchain trackers, two Grayscale-linked wallets bought 510,387 HYPE tokens worth approximately $24.95 million over the past week and staked the holdings. The activity adds to institutional momentum in Hyperliquid's ecosystem, which had previously filed an S-1 registration statement for a HYPE ETF in January.

Other major players also accumulated the asset. An a16z-linked whale purchased 206,325 HYPE worth about $9.95 million before staking, bringing its total holdings since April 14 to 2.34 million HYPE valued near $102 million. HYPE spot ETF flows reached $53.5 million within seven days of launch, with Bitwise purchasing $19.78 million in HYPE. HYPE recently traded near $57, approaching its all-time high of $59.30.