Hyperliquid (HYPE) Surges to Record $64.48 Amid ETF Filings and Buyback Program

Table of Contents Hyperliquid’s native token (HYPE) continues its remarkable ascent, establishing new price records driven by a confluence of institutional adoption, strategic token economics, and expanding platform utility. The digital asset peaked at $64.48 before stabilizing near the $60 level. The competitive landscape for HYPE-focused exchange-traded products is rapidly evolving. Bitwise introduced BHYP on the NYSE Arca exchange, while 21Shares debuted THYP on Nasdaq. These investment vehicles collectively attracted $72.38 million in fresh capital during the previous week, representing a dramatic increase from the prior week’s modest $2.52 million. Grayscale has officially entered the competition. According to Bloomberg’s ETF specialist James Seyffart, Grayscale submitted an updated registration document for a HYPE investment trust, proposing the ticker symbol GHYP. The documentation identifies Anchorage Digital Bank as the custodial partner and Bank of New York Mellon as the administrative entity. NEW: @Grayscale submits another Hyperliquid ETF filing! This one is amendment #3. Ticker will be $GHYP when it launches. Have to assume we are getting closer to a launch where we'll have three hyperliquid:native ETFs on U.S. exchanges pic.twitter.com/lvrR3qbxM6 — James Seyffart (@JSeyff) May 22, 2026 Grayscale’s submission incorporates a staking component. Should regulatory authorities approve, the trust may be rebranded as the Grayscale Hyperliquid Staking ETF, potentially offering investors exposure to both price appreciation and staking income. Hyperliquid employs a distinctive economic model that channels 97% to 99% of platform trading fees toward systematic token repurchases from secondary markets. Approximately 210,000 HYPE tokens were acquired through this mechanism during the past week. The platform’s assistance fund currently maintains 44.52 million tokens, with cumulative repurchases totaling 26.81 million HYPE. The aggregate value of all buyback activity has reached $1.16 billion. Everything is down right now. Everything except $HYPE. HYPE just hit a new all-time high. Two spot ETFs launched in the US. $25 million in inflows in a single session. The protocol buys back HYPE every day with trading fees. Institutions buy. Protocol buys. Retail hasn't… pic.twitter.com/6YytwXvCNk — Kyle Chassé 🐸 (@Kylechasse) May 24, 2026 Perpetual futures Open Interest climbed to a record $2.95 billion on Monday, according to CoinGlass data. Hyperliquid commands approximately 70% of the decentralized perpetual futures market and represents roughly 7% of total perpetual contract open interest across all trading venues. Market participant LSTRADER, sharing analysis on X, observed that previous all-time high projections have already materialized. The trader suggested the current strategy involves trend following while capitalizing on temporary retracements, with additional resistance levels now in focus. $HYPE +%40 ATH ✅ / New Setup ? This has been one of the pairs we’ve traded the most recently, and now we’re targeting even higher prices. Our initial ATH expectation has been achieved successfully. From here, we’ll continue riding the trend while also taking advantage of… https://t.co/Nj2b6NQHDl pic.twitter.com/r79jntcCTt — LSTRADER (@LSTraderCrypto) May 24, 2026 Hyperliquid’s recently launched HIP-4 prediction market processed 6.05 million contracts on its inaugural day and equaled Polymarket’s two-week Bitcoin binary contract volume within just 48 hours. Additional product offerings generate increased fee revenue, which directly powers the token buyback system. From a technical analysis perspective, HYPE maintains strong positioning above its 50, 100, and 200-day exponential moving averages. The Relative Strength Index registers at 75, suggesting overbought territory, while the MACD indicator confirms ongoing bullish momentum. Fibonacci extension analysis identifies critical resistance zones at $70.04 and $83.51. Crypto analyst Michaël van de Poppe has publicly expressed his conviction that HYPE will exceed $100 in the near term.