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.