Why Bitwise CIO Thinks Investors Are Mispricing Hyperliquid and HYPE Token
Despite not being available to US users, Hougan calls Hyperliquid one of the fastest-growing financial businesses he has seen.
Bankless·
Bitwise and 21Shares are the only live HYPE ETFs so far, with inflows growing 8x since day one and VanEck and Grayscale filings still pending.
Read full articleDespite not being available to US users, Hougan calls Hyperliquid one of the fastest-growing financial businesses he has seen.
Bitwise's chief investment officer said that Hyperliquid is targeting not the $3 trillion crypto economy, but the $600 trillion global asset market.
Market analyst Aletheia released a report on Wednesday, taking a close look at the first six days of trading for Hyperliquid ETFs launched by 21Shares and Bitwise. The analysis focuses on how early inflows are stacking up across major crypto assets and what those moves may signal for demand going forward. First Six Days Under The Microscope In market-cap-adjusted terms, Aletheia found that the Hyperliquid ETFs generated more flows than Bitcoin (BTC) on three of the first six trading days. The same comparison also showed strength versus Ethereum (ETH): Hyperliquid’s ETF products logged higher inflows than Ethereum on five out of six days. Related Reading: Bitwise Bullish on Hyperliquid: HYPE Labeled ‘Undervalued’ As It Rallies 20% The Solana (SOL) spot exchange-traded fund sector produced a different picture. According to the report, Solana posted higher market-cap-adjusted flows than Hyperliquid on four of the first six trading days. On Tuesday, however, Hyperliquid spot ETFs recorde
Bitwise’s Matt Hougan says Hyperliquid’s token is not priced as if it is tied to a “global super-app,” arguing the platform is more than just a crypto platform.
Hyperliquid’s HYPE drew Bitwise backing after a 77% 2026 rally, $170b monthly volume and ETF fee pledge fueled investor attention.
Bitwise Chief Investment Officer Matt Hougan issued a strongly bullish view on Hyperliquid and its native token, HYPE, shortly after Bitwise launched a HYPE exchange-traded fund (ETF) last week. In his comments, Hougan argued that the market is mispricing Hyperliquid’s broader business model—treating it as essentially just another perpetual futures venue. Hyperliquid As A Global Super App Hougan said Hyperliquid appears to be caught in what he described as a “pricing error,” with investors valuing the platform as little more than a perpetual futures exchange. In contrast, he framed Hyperliquid as a global financial “super app,” one that is moving beyond the boundaries of crypto and expanding into areas such as stocks, commodities, foreign exchange, and prediction markets. Related Reading: The Bitcoin Meltdown: What’s Behind The Drop To $76,000, And What’s Next As part of his valuation perspective, Hougan estimated the platform’s annual revenue could be in the range of about $800 mil
21Shares said its Hyperliquid ETF drew more than $5 million in inflows within days of its U.S. launch. 21Shares said early inflows into its Hyperliquid ETF point to investor demand for around-the-clock access to crypto and traditional markets, with the…
Bitwise CIO Matt Hougan said Hyperliquid is undervalued as HYPE gains 77% this year and its buyback model drives value. The post Bitwise CIO says Hyperliquid is undervalued as HYPE leads large cap crypto gains appeared first on Crypto Briefing.