In the United States, 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 the named altcoin $HYPE.
At this point, the 21 Shares Hyperliquid ETF (THYP) was newly launched and saw trading volume of around $1.8 million on its first day.
Bloomberg ETF analyst James Seyffart said the THYP ETF recorded $1.8 million in trading volume on its first day, indicating a very strong performance for a new launch.
He added that this figure is a good level for a typical new ETF launch, but does not represent an explosive success.
“21Shares THYP saw $1.8 million in trading volume on its first day of trading. This is a very strong performance for a first day of trading and a better start than the average ETF launch.”
However, this was not an explosive level of trading volume.
While other HyperLiquid-related ETFs are expected to hit the market, James Seyffart added that Bitwise’s HyperLiquid ETF will also launch soon and will be the next example of $HYPE.
Bitwise has already launched a European Hyperliquid Staking ETP on Deutsche Börse Xetra and is preparing to launch a spot $HYPE ETFs in the United States. Additionally, Grayscale also plans to launch a $HYPE ETFs.
*This does not constitute investment advice.