Two Hyperliquid spot ETFs saw net inflows exceeding $22 million in their first week.

CoinFeed reported on May 20th that, according to The Block, two US spot ETFs tracking Hyperliquid—21Shares' THYP and Bitwise's BHYP—saw a combined net inflow of approximately $22.3 million in their first week of trading, with over $11 million flowing in on Tuesday alone. Analysts noted that in the first six trading days, the two Hyperliquid ETFs outperformed Bitcoin ETFs on three days and Ethereum ETFs on five days, based on market capitalization adjustments. On-chain data shows that Hyperliquid recently accounted for over 42% of all blockchain transaction fees, with almost all of its HYPE token's revenue being used for buybacks through the Assistance Fund.