21Shares launches Hyperliquid (HYPE) ETP…listed on the SIX Swiss Exchange

Swiss-based virtual asset (cryptocurrency) exchange-traded product (ETP) issuer 21Shares has launched an exchange-traded product (ETP) backed by Hyperliquid's native token HYPE.

On the 29th, according to crypto-focused media Crypto Valley Journal, it listed the '21Shares Hyperliquid ETP' on the SIX Swiss Exchange. The product is designed as 100% physically backed, and the annual fee rate is 2.5%.

Mandy Chiu, head of financial product development at 21Shares, said, "Hyperliquid is playing the same role in the decentralized derivatives market that traditional financial ETF issuers have played," and added, "Investors will be able to access the fastest-growing cryptocurrency sector through regulated products."

Meanwhile, since its launch in 2023 Hyperliquid's cumulative trading volume has exceeded 2.07 trillion dollars, and it currently processes over 8 billion dollars per day, accounting for 80% of decentralized futures contract trading. They use more than 95% of revenues daily to buy back HYPE tokens, and buybacks exceeding 1 billion dollars have been executed to date. Monthly revenue has surpassed 56 million dollars, and it is regarded as a self-sustaining model without reliance on venture funding.

In addition, Hyperliquid operates the entire process on-chain without relying on external services or off-chain matching systems. Through one-click, gas-free orders, it provides a user experience similar to centralized exchanges.