HYPE Token Soars to $61 as Wall Street Rushes to Buy

A cryptocurrency called HYPE just hit a new all-time high price of $61.35, jumping more than 20% in just one day. This makes it the best-performing major cryptocurrency on Thursday.

What's driving the surge?

Big investment firms on Wall Street are rushing to buy HYPE through new investment funds called ETFs (exchange-traded funds - these are like stocks that let people invest in crypto without directly buying the coins). Two major firms, Bitwise and 21Shares, launched these HYPE ETFs earlier this month.

The numbers are impressive: • $25.5 million flowed into HYPE ETFs on Wednesday alone • $54 million total has been invested in just 7 trading days • Grayscale (a major crypto investment company) bought $41.6 million worth of HYPE this week

Why this matters

Peter Chung from Presto Research notes that institutions are buying HYPE ETFs even faster than they bought Bitcoin ETFs when those first launched. This shows strong confidence from professional investors.

Bitwise is going a step further - they plan to use 10% of their ETF management fees to buy and hold HYPE tokens themselves, showing they believe in the token's long-term value.

The bottom line

While major cryptocurrencies like Bitcoin and Ethereum stayed flat, HYPE's massive rally shows how quickly crypto prices can move when big investors get interested. The token had fallen to $21 at the start of 2026 but has now nearly tripled in value.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/402203/hype-token-new-record-high-wall-street-demand-hyperliquid?utm_source=rss&utm_medium=rss