Spot HYPE ETFs Draw $153 Million in First Month, Hit $900 Million in Volume

According to Bitcoin.com News, three spot HYPE ETFs—21Shares' THYP, Bitwise's BHYP, and Grayscale's HYPG—drew $153 million in net inflows in their first month, with cumulative trading volume reaching nearly $900 million since May. All three funds hold HYPE directly and distribute staking rewards at approximately 2.25% annually.

Grayscale's HYPG, which launched on June 3, charges a market-low sponsor fee of 0.29%, undercutting the 0.30% fees of 21Shares and Bitwise. The tokens track HYPE, the native asset of the Hyperliquid decentralized derivatives exchange, with roughly 97% of Hyperliquid's trading fees flowing into an onchain buyback mechanism that automatically drives demand tied to exchange revenue.