Bitwise Calls HYPE 'Most Mispriced' Crypto Despite 77% Rise This Year

HYPE0.54%
According to Bitwise investment chief Matt Hougan on Tuesday, Hyperliquid (HYPE) is one of the most mispriced assets in crypto despite rising 77% year-to-date in 2026. Hougan said the market underestimates HYPE's impact by valuing Hyperliquid solely as a perpetual futures exchange, when it should be priced as a global super-app offering exposure to crypto, stocks, prediction markets, and other assets. Bitwise launched a HYPE exchange-traded fund on the New York Stock Exchange on Friday, while 21Shares introduced a similar HYPE fund earlier that week, which drew $1.2 million in net inflows.
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