The first US Hyperliquid ETF closes $1.2M in initial inflows.
Crypto asset manager 21Shares, the first hyperliquid exchange-traded fund in the US, raised $1.2 million in net income and saw $1.8 million in trading volume in its Nasdaq debut.
“A very strong day and certainly better than your average ETF launch, but nothing too crazy,” Bloomberg analyst James Seifert said after the first day of trading on Tuesday.
Still, the initial trading volume of the 21Shares Hyperliquid ETF (THYP) was a fraction of that of previous buzzy crypto ETFs, such as the Bitwise Solana Staking ETF (BSOL), which pulled in $56 million on its opening day in late October, and the Canary XRP ETF (XRPC), which brought in $58 million when it launched in November.
THYP It seeks to track the spot price of the Hyperliquid (HYPE) token associated with the Eternal Futures platform of the same name, which has facilitated more than $8.4 trillion in trades since its launch in 2023.
Source: 21sher
The 21Shares HyperLiquid ETF adds a growing number of altcoins packaged by Wall Street funds, as the Securities and Exchange Commission loosens its grip on crypto ETFs.
In September, the SEC eased approval of crypto ETFs by moving away from case-by-case review of point crypto ETFs in favor of “general listing standards.”
THYP was launched ahead of the Bitwise Hyperliquid Staking ETF (BHYP), which Seifert predicted would be next for SEC approval.
Greyscale is awaiting the SEC's decision on the Greyscale HYPE ETF (GHYP).
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THYP carries a 0.3% management fee, which is significantly lower than the 0.67% fee offered by Bitwise for its hyperliquid ETF. Grayscale is yet to set up a payment for ATAF.
In December, Seyfert predicted that many crypto exchange-traded products would be released by the end of 2027 due to lack of demand.
His comments came ahead of a Bloomberg report in April that predicted the average life of ETFs will drop from 4.66 years in 2024 to about 3.5 years in 2025.
Dozens of ETFs were launched in the first few months of 2026, although none were known crypto ETFs.
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