CNBC
06 Jun 2026, 13:28 UTC · 2h ago
Bitcoin is cratering, but a new Wall Street crypto hype is on the rise
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CNBC
06 Jun 2026, 13:28 UTC · 2h ago
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Story key points
4 claims · impact-rated
Hyperliquid (HYPE) employs a revenue model where 99% of platform fees are used to buy back the asset, mimicking traditional stock buybacks. — Direct value accrual mechanisms typically drive higher investor demand and price stability compared to speculative tokens.
+0.60Three major providers (Bitwise, 21Shares, and Grayscale) have launched HYPE ETFs, collectively attracting approximately $150 million in assets. — Institutional wrappers lower the barrier to entry for traditional capital, increasing liquidity and legitimacy for the underlying asset.
+0.50Investors are flowing into HYPE ETFs despite a steep selloff in major crypto assets like Bitcoin and Ether. — Suggests a decoupling from broader crypto volatility and indicates specific appetite for 'revenue-generating' DeFi assets.
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The Hyperliquid platform remains unavailable to U.S. users, with regulatory approval for U.S. access not expected until 2027. — Limits the immediate addressable market for the core platform and introduces significant regulatory uncertainty.
-0.30Ticker attribution
Model heads
The article reports that the iShares Bitcoin Trust ETF has been bleeding assets and ended the week down around 16%.
[mutual] Both companies offer Hyperliquid ETFs and compete on expense ratios.
[mutual] Both companies have launched Hyperliquid ETFs and are compared on expense ratios and assets under management.
[mutual] Both companies have launched competing Hyperliquid ETFs and are compared via expense ratios and assets under management.
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