Bullish sentiment towards Hyperliquid is again on the rise, with crypto whales 
accumulating the perp DEX token. The first HYPE ETF in the U.S. could launch 
soon, which is also contributing to this bullish sentiment. Why Bullish 
Sentiment Towards Hyperliquid Is On The Rise Crypto whales are again massively 
accumulating Hyperliquid, which has sparked the bullish sentiment towards the 
perp DEX token. In an X post, on-chain analytics platform Lookonchain revealed 
that BitMEX co-founder Arthur Hayes bought 26,022 HYPE, worth $1.1 million 
again, after nearly 3 months. Related Reading: Here’s Why The Hyperliquid 
Price Is Exploding Again Hayes is one of many crypto whales Lookonchain has 
flagged as currently buying HYPE. The platform revealed that a particular 
whale had deposited 7.86 million USDC into Hyperliquid to buy 200,042 HYPE. 
Another whale, Cooker, also bought 50,751 HYPE for $1.99 million at an average 
price of $38.5. Such massive accumulation among crypto whales typically 
precedes a price surge for Hyperliquid. It is worth noting that the HYPE price 
is already up amid this accumulation wave, up over 12% in the last week. The 
perp DEX token has reclaimed the key $40 level and is now eyeing new local 
highs. Interestingly, Hayes has predicted that Hyperliquid could reach $150 by 
August. He stated that this could happen as the HIP-3 markets continue to 
generate record fees for the perp DEX. The DEX has seen greater adoption since 
the U.S.-Iran war began, as traders can trade commodities such as oil on 
HIP-3. DeFiLlama data shows that Hyperliquid currently ranks among the crypto 
protocols generating the most fees. This is bullish for HYPE because a 
majority of these fees go into buybacks, which could spark significant rallies 
for the token. An HYPE ETF Is On The Horizon Bitwise has filed an amended 
registration statement for its Hyperliquid ETF, with the fund set to trade 
under the ticker ‘BHYP.’ The asset manager also set a management fee of 0.67% 
for the fund. Meanwhile, it listed market makers FalconX, Flowdesk, Nonco, and 
Wintermute as approved trading counterparties. Related Reading: XRP, HBAR, And 
Litecoin: Pundit Highlights Coins To Watch In 2026 Bloomberg analyst Eric 
Balchunas noted that the filing indicates that the fund could launch soon, a 
development that is also bullish for Hyperliquid. The fund is expected to 
attract new inflows into the HYPE ecosystem as institutional investors gain 
exposure to the HYPE token through this ETF. Grayscale and 21shares have also 
filed to launch a Hyperliquid ETF, which is also bullish for the HYPE price. 
Balchunas noted that Bitwise may be looking to launch its HYPE ETF soon, given 
strong interest in HYPE, which is up 200% over the last year. At the time of 
writing, the Hyperliquid price is trading at around $42, up almost 2% in the 
last 24 hours, according to data from CoinMarketCap. Featured image from 
Medium, chart from Tradingview.com

Why Is Bullishness Around Hyperliquid On The Rise Again?

Hyperliquid price has rallied over 12% in the past seven days, supported by 
high-profile institutional filings and a surge in commodities trading on the 
platform. According to data from crypto.news, Hyperliquid (HYPE) price was 
trading at $41.5 at press time,…

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