Hyperliquid HYPE Token Surges on ICE Praise and CFTC Perpetuals Approval
On May 29, 2026, Hyperliquid’s HYPE token surged to a new all-time high near $75.30, driven by ICE CEO Jeff Sprecher’s praise of the platform as “bigger than Nasdaq” and the CFTC’s approval of the first U.S.-regulated bitcoin perpetual futures contract. Grayscale filed for a Hyperliquid ETF with a 0.29% fee, while the protocol processed $2.9 trillion in perpetual volume in 2025. HYPE’s market cap exceeded $16 billion, ranking it among the top 10 cryptocurrencies.
Cross-source coverage
Wire timeline
Hyperliquid's HYPE Hits New All-Time High; Analysts Discuss $300 Target
Hyperliquid's native token HYPE reached a new all-time high near $77 on June 16, 2026, climbing nearly 10% in a single day. The token now trades around $74.61 with a market capitalization of $16.57 billion, making it the tenth-largest cryptocurrency. The rally is driven by institutional capital rotating into HYPE, with spot ETFs drawing $153 million in net inflows since launch. Hyperliquid's revenue-generating business model, which directed 99% of its $850 million 2025 revenue to token buybacks and burns, is cited as attractive to institutions. However, leverage risks are noted, with long and short liquidations spiking. Analyst Efe 'Crypto Kid' Kelemci suggests that if HYPE scales to Tier-1 exchange volumes and launches spot trading, a market cap similar to Robinhood's $70 billion could push the token price above $300. Technical analysis shows the next targets at $83.55 and $98.47, with support at $59.41.
Yahoo FinanceGrayscale Launches Hyperliquid Staking ETF (HYPG) on Nasdaq
Grayscale Investments, the world's largest crypto-focused asset manager and a subsidiary of Barry Silbert's Digital Currency Group, announced the launch of the Grayscale Hyperliquid Staking ETF (ticker: HYPG) on the Nasdaq Stock Exchange. The fund offers exposure to the Hyperliquid (HYPE) token, which has a market capitalization of over $18 billion, and provides potential staking rewards averaging 2.2-2.3% annually. The ETF features a competitive gross management fee of 0.29%, lower than existing HYPE-linked funds. This launch follows strong institutional interest, with 21Shares and Bitwise Hyperliquid ETFs collectively attracting over $136 million in net inflows. HYPE token holders benefit from governance rights, trading fee discounts on the Hyperliquid decentralized perpetual futures platform, and network staking security.
Yahoo FinanceGrayscale Launches Hyperliquid Staking ETF (HYPG) on Nasdaq
Grayscale Investments, the world's largest crypto-focused asset manager and a subsidiary of Barry Silbert's Digital Currency Group, launched the Grayscale Hyperliquid Staking ETF (ticker: HYPG) on the Nasdaq Stock Exchange on June 3, 2026. The fund tracks the price of the Hyperliquid (HYPE) token, which has a market cap over $18 billion, and offers potential staking rewards averaging 2.2-2.3% annually. The ETF has a gross management fee of 0.29%, lower than competing HYPE-linked funds. HYPE has seen strong institutional interest, with 21Shares and Bitwise Hyperliquid ETFs drawing over $136 million in net inflows. Despite a broader crypto bear market, HYPE has surged over 180% year-to-date, trading at $72.49 at the time of writing.
Yahoo FinanceGrayscale Hyperliquid ETF Launch Imminent After Fee Disclosure Filing
Grayscale has filed its sixth amendment to register a Hyperliquid ETF (ticker: HYPG), disclosing a 0.29% management fee that undercuts competitors 21Shares (0.30%) and Bitwise (0.34%). Bloomberg ETF analyst James Seyffart called the launch 'likely imminent,' expecting it within the week. The filing does not initially allow HYPE staking but includes a condition for future yield distribution. HYPE reached an all-time high of $75.30 on Monday, with a $16.7 billion market cap, becoming the 10th-largest cryptocurrency. The two existing Hyperliquid ETFs from 21Shares and Bitwise, launched in mid-May, have attracted nearly $140 million in combined net inflows. However, the broader crypto ETF market faces headwinds, with Bitcoin ETFs posting 10 consecutive days of net outflows totaling nearly $3 billion and Ethereum ETFs on a 14-day outflow streak.
Yahoo FinanceGrayscale Investments Sets 0.29% Fee for Hyperliquid ETF
Grayscale Investments has announced a 0.29% management fee for its new Hyperliquid Staking ETF (ticker: HYPG), undercutting competitors Bitwise (0.34% after first month) and 21Shares (0.30%). The ETF will launch within the next week and focuses on Hyperliquid, a decentralized derivatives exchange for perpetual futures contracts on blockchain. Hyperliquid's native token HYPE is the 10th largest cryptocurrency with a $16.1 billion market cap. The launch follows the CFTC's recent approval for crypto firms like Coinbase and Kalshi to offer perp contracts in the US. Hyperliquid ETFs have attracted over $132 million in net inflows over the past month, indicating strong investor demand.
Yahoo FinanceHYPE Token Hits Record as CFTC Perpetuals Approval Lifts Hyperliquid
Hyperliquid's HYPE token reached a new all-time high near $67.24 on May 29, 2026, driven by the CFTC's approval of KalshiEX's BTCPERP contract, the first U.S.-regulated bitcoin perpetual futures product. Although Hyperliquid was not directly part of the CFTC order, the decision signals a clearer regulatory path for perpetuals, a market Hyperliquid dominates. The protocol processed approximately $2.9 trillion in perpetual volume in 2025, with $7 billion in open interest and $800 million in fees. Grayscale has filed for a spot Hyperliquid ETF under ticker GHYP. Intercontinental Exchange CEO Jeff Sprecher remarked that Hyperliquid is 'bigger than Nasdaq,' highlighting growing traditional finance interest. HYPE was trading at $66.84 at the time of reporting.
Yahoo FinanceHYPE Token Hits Record as CFTC Perpetuals Approval Lifts Hyperliquid
The HYPE token reached a new all-time high near $67.24 on May 29, 2026, driven by the Commodity Futures Trading Commission's (CFTC) approval of KalshiEX's BTCPERP contract, the first U.S.-regulated bitcoin perpetual futures product. Although Hyperliquid was not directly part of the CFTC order, the decision boosted the broader perpetuals market, where Hyperliquid is a leading decentralized exchange. The protocol processed approximately $2.9 trillion in perpetual volume in 2025, held $7 billion in open interest, and generated $800 million in fees. Grayscale has filed for a spot Hyperliquid ETF under ticker GHYP. Intercontinental Exchange CEO Jeff Sprecher remarked that Hyperliquid is 'bigger than Nasdaq,' highlighting growing traditional finance interest. HYPE was trading at $66.84 at the time of reporting.
Yahoo FinanceHYPE Jumps 10% After NYSE Owner Highlights Hyperliquid's Wall Street Potential
Hyperliquid's HYPE token surged nearly 10% to $62.30 on May 29, 2026, after Intercontinental Exchange (ICE) CEO Jeff Sprecher praised the decentralized derivatives platform at the Bernstein 42nd Annual Strategic Decisions Conference. Sprecher, whose company owns the New York Stock Exchange, noted that Hyperliquid, built by just 11 people, has grown larger than Nasdaq in trading volume. He highlighted features such as weekend oil futures, up to 100x leverage, and a fully on-chain order book that are pushing traditional exchanges to extend trading hours. The token came within 4% of its all-time high of $64.44, lifting Hyperliquid's market value above $13.8 billion. HYPE now ranks as the 11th-largest crypto asset, supported by $1.16 billion in buybacks and growing institutional demand including spot ETF interest and a recent purchase by Arthur Hayes. The token has gained roughly 80% over the past 12 months.
Yahoo Finance