21Shares’ Hyperliquid ETF Logs $1.8 Million in First-Day Trading

21Shares’ Hyperliquid exchange-traded fund, THYP, logged $1.8 million in trading volume on its first day of trading.

James Seyffart, a Bloomberg ETF analyst, wrote on X on May 12 that THYP’s $1.8 million debut volume was a fairly solid result. It was a better start than the average ETF launch, he added.

Still, Seyffart said the volume was not explosive.

The market is also watching for additional Hyperliquid-related ETF launches. Seyffart wrote that Bitwise’s Hyperliquid ETF could be the next to come to market.