Crypto analyst Aletheia noted that six trading days after the launch of the first two Hyperliquid (HYPE) spot ETFs, their market‑cap‑adjusted inflows exceeded Bitcoin spot ETFs in the first three trading days, and outperformed Ethereum spot ETFs on five out of six days. Solana spot ETFs outperformed Hyperliquid on four of those days.

On the sixth trading day, inflows into HYPE spot ETFs were notably higher than comparable products. Over the same period, HYPE purchased by HYPE spot ETFs was 2.5 times the amount bought and burned by the Assistance Fund, indicating growing buying pressure from ETFs in the market.