On June 16, the first batch of spot HYPE ETFs launched approximately one month ago, achieving a cumulative net inflow of $153 million and a total trading volume nearing $900 million. Currently, three institutions have launched regulated HYPE ETFs: 21Shares' THYP, Bitwise's BHYP, and Grayscale's HYPG. Approximately 97% of the trading fees from HYPE are directly allocated to the buyback fund, creating a linkage between trading volume and token demand. All three ETFs hold HYPE directly and distribute about 2.25% annualized staking rewards to investors. Currently, around 45% of the eligible supply in the ETFs (approximately 434 million HYPE) has been staked.
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