HYPE Hits Wall Street as BTC ETFs Bleed $1B and $19B in Assets Go On-Chain

Watch on YouTube ↗  |  May 18, 2026 at 18:21  |  32:33  |  CoinDesk
Speakers
Sean Farrell — Head of Digital Asset Strategy, Fundstrat
Eli Ndinga — Global Head of Research, 21Shares

Summary

The episode covers crypto market headwinds from hot inflation data, the slowdown in crypto IPOs, and the resilience of Bitcoin ETFs. Sean Farrell highlights Bitcoin miners pivoting to AI as a hedge and argues that Hyperliquid has strong fundamentals. Eli Ndinga discusses the Hyperliquid ETF launch and sets a $75 price target for HYPE. Anthony Moro introduces Nuva Labs, a platform for tokenized real-world assets.

  • Senate Banking Committee passed the Clarity Act, but macro headwinds from inflation overwhelmed markets.
  • Crypto IPO plans paused due to market conditions and multiple compression.
  • Bitcoin miners diversifying into AI are seen as a strong relative value trade within crypto.
  • Hyperliquid's HYPE token has generated $850M in annual revenues and added a Coinbase USDC partnership.
  • Two HYPE ETFs launched on Wall Street; 21Shares has a $75 price target for HYPE.
  • Nuva Labs launched with $19B in tokenized real-world assets from Figure Technologies.
  • The platform plans a token generation event to allow user ownership.
Trade Ideas
Sean Farrell Head of Digital Asset Strategy, Fundstrat 5:13
Bitcoin miners AI pivot offers higher yields
Bitcoin miners pivoting to AI infrastructure are a good place to hide because they have energy PPAs that hyperscalers need, allowing them to monetize capacity at higher rates, leading to higher earnings and multiples.
AI MED
Sean Farrell Head of Digital Asset Strategy, Fundstrat 8:41
Hyperliquid has strong fundamentals and revenue growth
Hyperliquid (HYPE) has a great fundamental story with $850M LTM revenues, a Coinbase partnership adding $150M non-cyclical revenues, and a pre-IPO market tailwind; it is a winner to average into.
HYPE HIGH
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This CoinDesk video, published May 18, 2026, features Sean Farrell discussing AI, HYPE. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Sean Farrell  · Tickers: AI, HYPE