Hyperliquid (HYPE) has surged to a record $75.30 as anticipation built around Grayscale Investments’ proposed HYPE exchange-traded fund.
The asset’s rally came alongside progress in regulatory filings that signal a near-term ETF launch in the United States.
Market participants tracked both the token’s price discovery phase and the fund’s advancing approval process.
Attention also shifted to how new institutional products could influence liquidity and demand for HYPE.
Grayscale advances HYPG ETF filing
Grayscale Investments moved closer to launching its Hyperliquid-focused ETF after submitting its sixth amendment to the US Securities and Exchange Commission.
The filing introduced the HYPG ticker and confirmed a 0.29% annual management fee. This positions the fund slightly below competing products in terms of cost.
ETF analyst James Seyffart of Bloomberg Intelligence said on X that the launch appeared “likely imminent.” He pointed to the inclusion of the ticker and fee structure as key signals of readiness. Seyffart also projected that the fund would begin trading under the HYPG symbol.
Competitors already operate in the same segment. The 21Shares HYPE ETF (THYP) charges 0.30%, while Bitwise’s BHYP fund charges 0.34%.
Both launched in mid-May and have recorded nearly $140 million in combined net inflows.
HYPE price enters strong price discovery phase
Hyperliquid (HYPE) reached a new all-time high of $75.30 on Monday, extending its upward trend.
The rally pushed its total market capitalization to $16.7 billion. This valuation placed HYPE as the tenth-largest digital asset globally.
Crypto analyst Ali Charts stated on social media that HYPE continues to set fresh record highs. He noted that the token has moved deeper into price discovery.
The analyst also said earlier bearish signals no longer apply to current market conditions. He identified $97 and $163 as potential resistance zones if momentum continues.
Hyperliquid’s broader ecosystem has also strengthened. The decentralized trading platform now processes more than $170 billion in monthly transaction volume across various asset classes.
The ETF development adds another layer of attention to the token’s performance. Grayscale’s filing also revealed an initial allocation of roughly 2 million HYPE tokens, valued at nearly $144 million.
The structure includes staking mechanisms intended to generate additional yield for investors, though the staking revenue split remains undisclosed.
Hyperliquid technical analysis
The 1-day Hyperliquid price chart shows a strong bullish uptrend after a prolonged consolidation phase.
Price has accelerated sharply, pushing from the mid-range levels into a recent high near $75 before pulling slightly back toward $71.17.
The overall structure reflects higher highs and higher lows, confirming sustained buyer control.
Momentum indicators support this trend, with RSI at 72.43, signaling overbought conditions and strong buying pressure.
The RSI also suggests the rally may face short-term cooling or consolidation.
The MACD indicator remains bullish, with the MACD line above the signal line and expanding histogram bars. This confirms continued upward momentum despite minor pullbacks.
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