Hyperliquid ETF Launches with $1.2M Inflows and Solid Trading Volume

The Hyperliquid ETF, listed under the ticker THYP, has made its debut on the Nasdaq exchange. On its first day of trading, it attracted $1.2 million in net inflows and $1.8 million in trading volume. According to Bloomberg analyst James Seyffart, this is a 'very very solid' performance, exceeding average ETF launches.

The Hyperliquid ETF seeks to track the spot price of the Hyperliquid token, which is tied to the perpetual futures platform. The platform has facilitated over $8.4 trillion in trading volume since its launch in 2023. This is significantly higher than earlier altcoin ETF launches, such as the Bitwise Solana Staking ETF (BSOL), which attracted $56 million on its opening day.

The Hyperliquid ETF carries a management fee of 0.3%, lower than the proposed 0.67% fee for Bitwise's own Hyperliquid ETF, BHYP. Grayscale is also awaiting approval for its Grayscale HYPE ETF (GHYP), but has not yet set a fee for the product.