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21Shares Launches Hyperliquid ETF on Nasdaq With Spot HYPE Exposure

Bloomberg ETF analyst James Seyffart called 21Shares’ $1.8 million first trading day a very solid debut, while noting the product offers HYPE price exposure without direct token ownership.

HYPE

Fact Check
The core elements of the claim are strongly corroborated by multiple independent sources. The Block confirms the $1.8 million first-day trading volume and the Nasdaq launch of THYP with spot HYPE exposure and staking. The official 21Shares US X post confirms the May 12, 2026 Nasdaq listing, physical HYPE backing, staking, and 0.30% fee. Stock Titan and Business Insider press releases further confirm THYP as the first U.S. Hyperliquid ETF. The $1.2 million net inflows figure is the only element not independently verified in the retrieved sources, but it is consistent with the $1.8 million trading volume and is plausible for a debut-day altcoin ETF of this scale. The slight uncertainty is solely around the net inflows figure, which was not directly confirmed by The Block or the official press release.
Summary

21Shares’ Hyperliquid ETF recorded $1.8 million in first-day trading volume, which Bloomberg ETF analyst James Seyffart described as a very solid debut. The fund is the first Hyperliquid ETF to begin trading. The new report says the product gives investors HYPE price exposure without holding the token, and Seyffart added that Bitwise’s Hyperliquid ETF could be the next to list.

Terms & Concepts
  • ETF: An exchange-traded fund is a listed investment vehicle that trades on stock exchanges and provides exposure to an underlying asset or strategy.
  • HYPE: HYPE is the token associated with the Hyperliquid ecosystem and serves as the underlying asset referenced by Hyperliquid-linked investment products.