The first Hyperliquid ETF officially launched on Tuesday, and early signs indicate it has cleared a major hurdle for a new product: a strong first day compared to typical launches of exchange-traded products.
The fund has been approved by the US Securities and Exchange Commission (SEC) and was founded by crypto asset manager 21Shares, with the ETF now trading under the ticker $THYP on the Nasdaq.
Summary of the launch of hyperliquid ETFs
Bloomberg analyst James Seyffart explained the debut of the Hyperliquid ETF and gave a clear but cautious view on the numbers. On a Tuesday after On
In addition to the trading activities, 21Shares also shared key launch information. The company set the fund’s management fee at 0.3%. By comparison, Morgan Stanley’s exchange-traded Bitcoin (BTC) fund, $MSBT, has the lowest fee at 0.14%.
In addition to the pricing, 21Shares announced net inflows of $1.2 million for its Hyperliquid ETF on day one, giving investors another data point on how quickly demand may have formed after launch.
However, the broader market context may complicate near-term performance expectations. At the time of writing, Hyperliquid’s native token HYPE was down 3.5%, testing the $40 level as support.
This decline coincides with a period of market uncertainty due to Bitcoin’s recent bounce after it failed to break $83,000 at last week’s peak. If it breaks through the $80,000 support, some analysts believe it could lead to another correction.
If sentiment deteriorates again, it could also potentially dampen demand for 21Shares’ Hyperliquid ETF offering, especially if inflows decline after the initial launch period.
Bitwise and grayscale update HYPE ETF filings
Looking beyond the launch of 21shares’ Hyperliquid ETF, attention is now turning to other issuers. The market is keeping an eye on Bitwise and Grayscale, both of which have updated their spot HYPE ETF registrations, reinforcing the sense that more products could follow soon.
It is expected that these Hyperliquid ETF efforts from the two asset managers could benefit from the current regulatory environment in the country, with a now pro-crypto Securities and Exchange Commission led by Paul Atkins.
Featured image created with OpenArt, chart from TradingView.com