Hyperliquid ETFs surprise with 50% volume jump after slow launch

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.

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 “very rare,” and many normally record a “big splash [on] day one then drop off OR oblivion for months until [people] notice it. Rare to build in first week like this.”

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