Hyperliquid ETF trading volume unexpectedly jumps 50%
Exchange-traded funds (ETFs) linked to the HYPE token in the US recorded a 50% jump in trading volume on Wednesday. Analysts consider this a rare occurrence for newly debuted ETFs. Two Hyperliquid (HYPE) funds from issuers Bitwise and 21Shares have reached a total trading value of nearly $41 million since their launch. This is reported by Cointelegraph.com reports .
Bloomberg ETF analyst Eric Balchunas called this growth "very rare" on the social network X. Typically, new funds launch with significant hype on the first day, only to decline or remain overlooked for months. Balchunas attributed this growth to perfect timing: while assets like stocks, bonds, Gold, and Bitcoin have been declining recently, only HYPE is showing growth.
According to CoinGecko data, the Hyperliquid token has risen 120% this year and 18.5% in the last day, reaching $56. Traders consider this platform the next trend set to capture a large share of the crypto futures market. For comparison, last year the S&P 500 index grew by 8.6% and the Nasdaq 100 by 16%, while Bitcoin fell by 11%.
21Shares was the first to launch its 21Shares Hyperliquid ETF (THYP) on May 12. The Bitwise Hyperliquid ETF (BHYP) debuted on May 14. On Wednesday, both funds received a record $25.5 million in net inflows. Additionally, asset management firm Grayscale filed for a Hyperliquid ETF in March, which is currently under regulatory review.
