21Shares Hyperliquid ETF Makes US Debut with Modest Trading Volume

The US Securities and Exchange Commission's (SEC) recent relaxation of rules for crypto exchange-traded funds (ETFs) has paved the way for new entrants into the market. The 21Shares Hyperliquid ETF, which tracks the spot price of the Hyperliquid token, made its debut in the US on Tuesday, attracting $1.2 million in net inflows and $1.8 million in trading volume.

According to Bloomberg analyst James Seyffart, the ETF's first day of trading was a 'very solid' success, but noted that the trading volume was lower compared to earlier crypto ETF launches, such as the Bitwise Solana Staking ETF (BSOL) and the Canary XRP ETF (XRPC).

The Hyperliquid token has facilitated over $8.4 trillion in trading volume since its launch in 2023.