The world's first Hyperliquid ETF has officially launched! Bloomberg analyst: First-day trading performance is "quite robust."

ORIGINAL全球首檔 Hyperliquid ETF 正式掛牌！彭博分析師：首日交易表現「相當穩健」

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The cryptocurrency market has reached a new milestone! Asset management giant 21Shares launched the world's first Hyperliquid ETF on Tuesday, with "very impressive" trading volume on its first day. Through this fund, named "21Shares Hyperliquid ETF (THYP)," investors can easily participate in the market performance of Hyperliquid's native token, HYPE, without the need to manage complex crypto wallets. Bloomberg ETF analyst James Seyffart gave a positive assessment of the fund's first-day performance. He noted: THYP finished the day at $1.8 million in trading. This is a very, very solid start, definitely outperforming the launch day of an average traditional ETF. While it wouldn't be called a market frenzy, it is certainly a respectable level. Okay, $THYP finished the day at $1.8 million in trading. Very very solid day and better than your average ETF launch for sure but nothing too crazy. Expecting @Bitwise's Hyperliquid ETF to be the next launch. Hyperliquid https://t.co/4RWzMBJT2D pic.twitter.com/fg3Nm5cV15 — James Seyffart (@JSeyff) May 12, 2026 When compared to the first-day performance of previous heavyweight "altcoin" ETFs, the first XRP spot ETF, which listed last November, reached $58 million in first-day trading volume, while the first Solana (SOL) ETF launched by Bitwise followed closely with $57 million. Although THYP's trading volume cannot yet stand on par with these "established coins," considering the uniqueness of Hyperliquid as an emerging infrastructure, $1.8 million is enough to prove its appeal in the eyes of institutions. Looking ahead, James Seyffart expects the next fund to be approved for listing will be Bitwise's Hyperliquid ETF. In fact, Bitwise was the first company in the U.S. to file for a HYPE fund. Just last month, Bitwise submitted its second amendment to the prospectus for its proposed HYPE spot ETF, finalizing details regarding counterparties and operations. Furthermore, Bitwise has not slowed down its global expansion, having previously launched a European Hyperliquid staking ETP on the Deutsche Börse Xetra. Meanwhile, crypto trust giant Grayscale is also seeking to launch a HYPE fund. According to CoinGecko data, Hyperliquid (HYPE) is currently trading at $40.41, down 2% over the past 24 hours.

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