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First Hyperliquid ETF Launch: Day One Volume Hits $1.8M–Key Details
TL;DR
The first Hyperliquid ETF began trading on Tuesday, achieving $1.8 million in volume on its first day. Created by 21Shares and approved by the SEC, it trades under the ticker $THYP on Nasdaq.
Key points
- First Hyperliquid ETF launched on Tuesday
- Trading volume reached $1.8 million on day one
- Created by 21Shares and approved by the SEC
- Ticker symbol for the ETF is $THYP
- Management fee set at 0.3%
Mentioned in this story
21SharesMorgan Stanley
US Securities and Exchange CommissionHyperliquid ETF
The first Hyperliquid ETF officially began trading on Tuesday, and early signs suggest it cleared a key hurdle for a new product: a strong first day relative to typical exchange-traded product launches.
The fund was approved by the US Securities and Exchange Commission (SEC) and was created by crypto asset manager 21Shares, with the ETF now trading under the ticker $THYP on the Nasdaq.
Hyperliquid ETF Launch Recap
Bloomberg analyst James Seyffart weighed in on the debut Hyperliquid ETF debut, offering what amounted to a clear-but-cautious read on the numbers. In a Tuesday post on X, Seyffart said $THYP finished the day at $1.8 million in trading, describing it as “very very solid” and stronger than an average ETF launch—though not in a category that he would label as extraordinary.
Alongside the trading activity, 21Shares also shared key launch disclosures. The firm set the fund’s management fee at 0.3%. By comparison, Morgan Stanley’s spot Bitcoin (BTC) exchange-traded fund, $MSBT, carries the lowest fee at 0.14%.
In addition to pricing, 21Shares disclosed $1.2 million in net inflows on day one for its Hyperliquid ETF, giving investors another datapoint for how quickly demand may have formed after the launch.
Even so, the broader market context may complicate near-term performance expectations. At the time of writing, Hyperliquid’s native token, HYPE, was down 3.5%, testing the $40 level as support.
The daily chart shows HYPE’s drop to the $40 support on Tuesday. Source: HYPEUSDT on TradingView.com
This decrease coincides with a period of market uncertainty brought on by Bitcoin’s recent retrace after failing to breach $83,000 during last week’s surge. If the $80,000 support breaks, some analysts believe this might lead to a new correction.
If sentiment worsens again, it could potentially weigh on demand for 21Shares’ Hyperliquid ETF offering as well—particularly if inflows soften after the initial launch period.
Bitwise And Grayscale Update HYPE ETF Filings
Q&A
What was the trading volume of the first Hyperliquid ETF on its launch day?
The first Hyperliquid ETF recorded a trading volume of $1.8 million on its launch day.
Who created the Hyperliquid ETF and what is its management fee?
The Hyperliquid ETF was created by crypto asset manager 21Shares, with a management fee set at 0.3%.
How does the management fee of the Hyperliquid ETF compare to Morgan Stanley's Bitcoin ETF?
The Hyperliquid ETF's management fee of 0.3% is higher than Morgan Stanley's spot Bitcoin ETF, which has a fee of 0.14%.
