- ETF21Shares (THYP) debuted on the Nasdaq with $1,2 million in net inflows and $1,8 million in trading volume.
- THYP trading volume was significantly lower than that of popular cryptocurrencies ETF.
The first ever spot Hyperliquid cryptocurrencyETF from 21Shares (THYP) began trading on the Nasdaq exchange in the United States on May 12. On the day of its debut, it attracted almost $1,2 million, which Bloomberg analyst James Seyffarth considered a very good result.
A very, very good day, and it’s definitely better than the usual launch ETF, but for [cryptocurrency] nothing special, – сказал Seyffarth.
Indeed, the trading volume of THYP turned out to be several times smaller than that of more popular cryptocurrencies ETF, such as Bitwise Solana Staking ETF (BSOL), which raised $56 million on its launch day in late October, and Canary XRP ETF (XRPC), which raised $58 million in November.
THYP tracks the spot price of the Hyperliquid (HYPE) token, which is linked to the perpetual futures trading platform, which has seen over $8,4 trillion in trading volume since its launch in 2023.
21Shares’ HYPE fund launched before Bitwise Hyperliquid Staking ETF (BHYP), which, according to forecastBloomberg’s Eric Balchunas is expected to be next. ETF, approved by the Securities and Exchange Commission. Grayscale is also awaiting a decision from the Securities and Exchange Commission on its ETF Grayscale HYPE (GHYP).
Interestingly, THYP’s management fee is 0,3%, which is much lower than the 0,67% fee Bitwise proposed for its Hyperliquid fund. Grayscale has not yet set a fee for its ETF.
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