HYPE Token Tops $61 as Grayscale, Bitwise Drive ETF Surge

- HYPE hits new all-time high amid record ETF inflows led by Grayscale and Bitwise - Rally outpaces wider crypto market declines, fueled by surging trading volumes On May 23, 2026 (UTC), Cryptopolitan reported that Hyperliquid’s native token, HYPE, surged above $61.68 to a new all-time high as institutional buyers, including Grayscale and Bitwise, sharply increased their ETF acquisitions during this period. The rally came alongside record trading volumes and heightened open interest in Hyperliquid derivatives, which now exceed $2.1 billion. According to Cryptopolitan on May 23, 2026, Grayscale accumulated addresses totaling more than $13 million in HYPE, while Bitwise publicly disclosed its HYPE ETF allocations. These moves set a new monthly peak, with traders acquiring over 580,000 HYPE tokens in May, even as other crypto ETFs registered outflows. The broader crypto market saw declines; however, substantial institutional inflows supported HYPE’s gains. In addition, expanding DeFi, asset tokenization, and real-world trading pair activity contributed to the token’s momentum, positioning HYPE as a potential leader for the next bull cycle. As of May 21, 2026, at 18:09 UTC, a market survey cited by Cryptopolitan showed that Hyperliquid (HYPE) was trading at $58.829, with a 13.393% change in 24-hour trading volume.