Hyperliquid Sets Fresh Record as Wall Street Expands ETF Exposure
Hyperliquid's HYPE pushed to a fresh all-time high near $89.60 on September 6, extending a rally that is increasingly intersecting with traditional finance.
Summary:
- HYPE set a new record near $89.60 on September 6.
- Thirty disclosed institutional holders accounted for $74.9 million in HYPE ETF positions as of June 30.
- The top five represented 70.8% of the disclosed institutional exposure.
- HYPE ETFs have attracted $356.58 million in cumulative net inflows, including another $10.52 million on September 4.
Thirty firms disclosed a combined $74.9 million in U.S.-listed Hyperliquid ETFs as of June 30, with UBS, Bank of Montreal, Jane Street and Brevan Howard among the names identified by Bloomberg Intelligence analyst James Seyffart. More recent fund-flow data shows demand continued after that reporting date: the three ETFs have accumulated $356.58 million in net inflows through September 4.
NEW: Earlier this week i took a look at the Hyperliquid ETFs and their 13F reporting. Here's a look at all the known holders of the three ETFs. hyperliquid:native pic.twitter.com/99rcQ8bsFs
— James Seyffart (@JSeyff) September 4, 2026
Wall Street Is Entering HYPE Through ETFs
The institutional names are eye-catching, but the composition of those positions matters as much as their size.
Seyffart’s review of the first quarterly ownership disclosures for the three U.S.-listed Hyperliquid ETFs identified 30 firms with $74.9 million in combined positions.
The five largest accounted for roughly $53 million:
- Wealth High Governance Asset Management: $23.95 million
- OLP Capital Management: $10.5 million
- UBS: $7.5 million
- Bank of Montreal: $6.7 million
- Jane Street: $4.4 million
Other disclosed holders included Discovery Capital Management at $3.8 million, Brevan Howard at $3.4 million, Balyasny at $1.8 million and Boothbay Fund Management at $1.8 million. Flow Traders and Virtu Financial also appeared among the reported holders.
The concentration is significant. The top five represented 70.8% of the $74.9 million total, showing that institutional ownership was still relatively narrow at the end of the second quarter.
There is another important caveat: these are June 30 positions, not current holdings. Banks can report securities held for clients, while trading firms such as Jane Street may hold ETF shares for market-making, arbitrage or hedging rather than as a directional bet on HYPE.
The disclosures are therefore evidence that HYPE has entered institutional portfolios and trading operations, but they should not be interpreted as $75 million of straightforward bullish bets from Wall Street.
ETF Flows Give a More Current Signal
Fund flows provide a fresher view of demand.
The three products, Bitwise’s BHYP, Grayscale’s HYPG and 21Shares’ THYP, recorded $356.58 million in cumulative net inflows through September 4. Combined net assets reached approximately $480.86 million.
Friday added another $10.52 million, with the entire daily inflow going into Bitwise’s BHYP. The fund ended the period with roughly $208.91 million in net assets, ahead of Grayscale’s HYPG at $182.68 million and 21Shares’ THYP at $89.28 million.
That distinction between the ETF flows and 13F filings is useful.
The ownership reports show who was involved at the end of June. The flow data shows that money continued entering the products during July, August and early September.
For U.S. investors, the funds also solve an access problem. They provide exposure to HYPE through conventional brokerage accounts without requiring investors to custody the token or directly access Hyperliquid’s decentralized derivatives venue.
HYPE Breaks Higher, but $90 Becomes the Immediate Test
The institutional disclosures arrived as HYPE was already challenging record territory.
At the time of writing HYPE trades at $87.93 on September 6. The token had climbed to a fresh record near $89.60 earlier in the day.
The broader technical structure remains bullish, with HYPE trading above every major moving average shown on the chart:
- 20-period SMA: $85.98, providing the closest dynamic support after the latest breakout.
- 50-period SMA: $83.91, reinforcing the broader short-term uptrend.
- 100-period SMA: $82.09, giving HYPE another support area if the current rally loses momentum.
- 200-period SMA: $69.94, well below the current price and reflecting the strength of the longer-term advance.
- RSI (14): 64.55, down from levels close to 70 and still above its RSI moving average of 57.71.
The alignment of the moving averages is constructive. The 20-period SMA sits above the 50-period average, which remains above the 100- and 200-period measures. That structure typically accompanies an established uptrend rather than a short-lived price spike.
Momentum, however, has eased after the latest record attempt. The RSI has slipped to 64.55 after approaching the 70 overbought threshold, while the latest 4-hour candles show selling pressure emerging around $88-$89.
That puts $89.50-$90 at the center of the next move. A decisive break above $90 would take HYPE deeper into price discovery, with no established historical resistance immediately overhead.
On the downside, $85.98 is the first level to watch because it coincides with the rising 20-period SMA. A break below it could shift attention toward $83.91-$84, followed by the $82.09 area around the 100-period SMA.
For now, HYPE remains technically strong above its short-term averages, but the combination of record prices and a cooling RSI makes the reaction around $90 more important than another intraday spike.
HYPE Is Getting Two Different Routes Into Traditional Finance
The ETFs are only one part of Hyperliquid’s growing connection with regulated U.S. markets.
Kraken parent Payward is separately working with the Commodity Futures Trading Commission on a potential U.S. product built around Hyperliquid technology through regulated derivatives exchange Bitnomial. The structure under discussion would not simply open Hyperliquid’s existing global platform to Americans. Instead, it could offer selected perpetual products through regulated infrastructure with KYC, custody and other U.S. compliance requirements.
That creates two distinct bridges between Hyperliquid and traditional finance.
The ETFs provide regulated investment exposure to HYPE, while a Bitnomial-based product could eventually bring aspects of Hyperliquid’s derivatives technology into the U.S. trading system.
For the token, the next question is whether those developments can keep attracting capital after the initial excitement. The $74.9 million in disclosed institutional positions is still concentrated and already more than two months old. The stronger near-term measure will be whether ETF inflows remain positive as HYPE tests $90 and whether the next round of 13F filings shows a broader institutional holder base.
If both expand together, HYPE’s record price would be accompanied by something more durable than momentum alone: a growing distribution channel inside the same brokerage and trading infrastructure used by traditional financial institutions.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
