Institutional Investors Disclose $74.9 Million in Hyperliquid ETF Holdings

Thirty institutional investors reported collective holdings of approximately $74.9 million in Hyperliquid ETF products in 13F filings dated June 30, 2026. These disclosures provide the first insight into the institutional adoption of funds tracking the native token of a decentralized perpetual exchange.

Wealth High Governance Asset Management, based in Brazil, emerged as the largest holder, reporting a position of roughly $23.95 million in the 21Shares THYP fund. This investment represents 632,614 shares. Other notable holders include OLP Capital Management with $10.5 million, UBS with $7.5 million, Bank of Montreal with $6.7 million, and Jane Street with $4.4 million.

The top five institutional holders account for approximately $53 million, or 70.8% of the total reported exposure. The remaining 25 institutions hold roughly $22 million in these products.

Three Hyperliquid ETFs have launched during 2026. The 21Shares THYP fund began trading on May 12, followed by the Bitwise BHYP fund on May 15, and a staking-focused Grayscale ETF on June 3.

While 13F filings show $74.9 million in total exposure, the Bitwise BHYP fund reported $128 million in net assets as of June 30, representing 1.96 million HYPE tokens. The discrepancy between total net assets and 13F filings suggests significant demand from retail investors or smaller institutions that do not meet the $100 million reporting threshold.

According to Bloomberg Intelligence ETF analyst James Seyffart, the filings indicate a diverse group of banks, asset managers, and trading firms participating in these products. The presence of Jane Street suggests the existence of secondary market liquidity for the funds.