Hyperliquid ETF Draws $22.3M, Volume Rises from $1.8M to $14.1M
Hyperliquid’s 21Shares Hyperliquid ETF (THYP) has net inflows of $22.3M in under two weeks with average volume rising from $1.8M on May 12 to $14.1M on May 19 and NAV climbing from $23.49 to $28.28. It integrates staking rewards and follows Bitwise’s BHYP launch, tapping Hyperliquid’s exchange $8B daily volume.
1. Fund Inflows and Trading Activity
The 21Shares Hyperliquid ETF (THYP) has amassed $22.3 million in net inflows since its May 12 launch, with daily trading volume climbing from $1.8 million to $14.1 million by May 19. The fund’s NAV rose from $23.49 to $28.28 over the same period, reflecting growing investor demand.
2. ETF Structures and Offerings
THYP offers spot-style exposure to the HYPE token via a brokerage account while integrating staking rewards to enhance yields. It launched alongside the 21Shares 2x Long HYPE ETF (TXXH), and was followed on May 15 by Bitwise’s BHYP, giving investors diversified access to Hyperliquid’s onchain derivatives market.
3. Underlying Exchange Performance
Hyperliquid’s onchain exchange commands over 50% of decentralized perpetual futures open interest and processes approximately $8 billion in daily volume, underpinning the organic demand for ETF wrappers that mirror its derivatives liquidity.