HYPE-ETF Launches in U.S. with Strong First-Day Performance
- The first HYPE-ETF, THYP, launched on May 12, led by 21Shares.
- THYP achieved over $1.8 million in trading volume on its first day.
- The ETF launch process took over six months, exceeding the SEC’s revised timeline of just 75 days.
- Custodial duties for the ETF are managed by Anchorage Digital Bank and BitGo Bank & Trust.
- Hyperliquid, a decentralized exchange, supports derivatives linked to both crypto and traditional assets.
The successful debut of THYP highlights growing interest in ETFs within the cryptocurrency space, despite regulatory hurdles that extended the launch timeline significantly.
With a first-day trading volume surpassing $1.8 million, THYP marks a significant milestone for cryptocurrency investment products in the U.S.
