US Market Welcomes Inaugural Physically-Backed Exchange-Traded Fund for a Leading Alternative Cryptocurrency, Sparking Expert Insights and Investor Interest

In the US, spot ETFs have been launched for many altcoins after Bitcoin and Ethereum. One of them is Hyperliquid ($HYPE). This ETF is the first of its kind to begin trading for the altcoin named $HYPE.

At this point, the 21 Shares Hyperliquid (THYP) ETF was newly launched and recorded a trading volume of approximately $1.8 million on its first day. Bloomberg ETF analyst James Seyffart stated that the THYP ETF recorded a trading volume of $1.8 million on its first day, indicating a very good performance for a new launch.

He added that this figure is a good level for a typical new ETF launch, but it doesn’t represent an explosive success.

“21Shares THYP recorded a trading volume of $1.8 million on its first day of listing. This is a very solid performance for a first day of trading and a better start than the average ETF launch.”

However, this was not an explosive level of transaction volume.”

While more HyperLiquid-related ETFs are expected to be launched on the market, James Seyffart added that Bitwise’s HyperLiquid ETF will also be launched soon and will be the next example of $HYPE.

Bitwise has already launched a European Hyperliquid Staking ETP on the Deutsche Börse Xetra and is preparing to launch a spot $HYPE ETF in the US. In addition, Grayscale is also planning to launch a $HYPE ETF.

*This is not investment advice.