finance
Hyperliquid's HYPE Token Rises 16% After Bitwise Launches Spot ETF
Hyperliquid's HYPE token climbed as high as nearly $47 on May 15, 2026, its highest price since October, following the debut of Bitwise's spot Hyperliquid ETF and Coinbase's new role as official USDC treasury deployer. Bitcoin held at $80,602.36 below its 200-day moving average even as the Clarity Act advanced toward a Senate vote.
May 15, 6:58 AM·2m read1 source
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Hyperliquid's HYPE token gained 16 percent over 24 hours to trade near $45 on May 15, 2026, after reaching an intraday high of nearly $47, its highest price since October. The surge followed the launch of Bitwise's spot Hyperliquid ETF on May 14, 2026, and Coinbase's agreement to become Hyperliquid’s official USDC treasury deployer under the Aligned Quote Asset framework.
34 percent sponsor fee that will be waived for one month on the first $500 million in assets.
52 million in net inflows two days after its launch, according to SoSoValue data. Coinbase deepened its ties to the decentralized exchange as Native Markets agreed to give the company the right to purchase assets tied to the Hyperliquid-native stablecoin USDH. USDH users are able to redeem into USDC or fiat without fees as the stablecoin is phased out.
USDC supply on Hyperliquid has reached about $5 billion. Hyperliquid has emerged as a go-to venue for trading tokenized and TradFi-linked assets, particularly during weekends when traditional financial markets are closed. The platform’s pre-IPO asset CBRS, which anticipated the stock-market debut of Cerebras, recorded more than $280 million in trading volume over the past 24 hours as of May 15, 2026, making it the ninth-largest traded asset on Hyperliquid.
36 on May 15, 2026, the largest cryptocurrency remained below its 200-day simple moving average even as the Clarity Act moved to a Senate vote by that date. Flare Network's FLR token gained 14 percent and Unibase's UB token gained 11 percent in the same 24-hour period.
Cumulative crypto futures volume reached $220 billion over the past 24 hours as of May 15, 2026, up 14 percent from the previous day.
