Hyperliquid ETFs surprise with 50% volume jump after slow launch
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ETF analyst Eric Balchunas says crypto and traditional assets are trading down while Hyperliquid is up, leading to a boon for ETFs tied to the token.
Key facts
The Hyperliquid token has gained 120% so far this year and is up 18.5% in the past day to $56, according to CoinGecko
The Bitwise Hyperliquid ETF (BHYP) debuted later that week on May 14 to $750,000 in net inflows
21Shares was the first to launch a HYPE fund in the US, launching its 21Shares Hyperliquid ETF (THYP) on May 12 and drawing $1.2 million in net inflows, far below other altcoin ETF launches such
Over the past year, the S&P 500 has gained 8.6%, while the tech-heavy Nasdaq 100 has gained 16%, while Bitcoin has fallen 11%
Summary
US-based exchange-traded funds tied to HYPE recorded a 50% trading volume jump on Wednesday, in a rare move for newly debuted ETFs, according to analysts. Two Hyperliquid (HYPE) ETFs from issuers Bitwise and 21Shares have recorded nearly $41 million in total value traded since their launches earlier this month, with trading volumes increasing since their debuts, according to SoSoValue. Bloomberg ETF analyst Eric Balchunas said in an X post Wednesday that such trading increases for ETFs are “rare,” and many normally record a “big splash day one then drop off OR oblivion for months until notice it. Balchunas pinned the ETFs’ growth on a “perfectly timed launch as EVERYTHING (stocks, bonds, gold, btc , cryptos) is down lately except the HYPE.”