Hyperliquid's HYPE Surges 16% to $45 on Bitwise Spot ETF Launch

Hyperliquid's HYPE token led altcoins with a 16% 24-hour surge to near $45 (peaking at $47) on May 15, outpacing Bitcoin after Bitwise launched its spot BHYP ETF and Coinbase expanded Hyperliquid's USDC treasury role. This builds on the May 12 21Shares THYP ETF debut, which propelled HYPE 64% year-over-year amid $11 million in platform fees (43% of DeFi revenue) and Bitcoin's steady 58.1% dominance. Crypto futures volume rose 14% to $220 billion with open interest at $132.76 billion, as utility-driven altcoins like Tron ($86.02 billion Q1 stablecoin supply) decouple from BTC below its 200-day moving average.