Hyperliquid’s HYPE Is at an All-Time High — and the ETF Has Almost Nothing to Do With It
When Hyperliquid’s HYPE token touched a record high above $64 on May 24, 2026, the financial press reached for the most comfortable available explanation: institutional money had arrived. The first US spot HYPE exchange-traded funds had launched days earlier, and the narrative wrote itself — Wall Street had blessed a decentralized derivatives exchange, and the…
