Swiss asset manager 21Shares has unveiled a new exchange-traded product tied to Hyperliquid, one of the fastest-rising players in decentralized derivatives.
The listing, now live on the SIX Swiss Exchange, gives investors exposure to the HYPE token without needing to interact with wallets or onchain custody.
Hyperliquid only launched in late 2022 but has already become a dominant force in DeFi trading. Its onchain order book processes billions in daily volume and has pushed total activity into the trillions, grabbing close to 80% of decentralized perpetuals.
The platform’s fee model – which buys back HYPE using trading revenue — has helped propel its token to record highs, recently topping $50.
The new product marks a milestone for both sides: 21Shares strengthens its reputation as a first mover in regulated crypto products, while Hyperliquid gets its first major institutional wrapper. Mandy Chiu, who heads product development at 21Shares, called the protocol’s growth “one of the most striking cases in the space.”
The exchange itself has been making headlines. July saw $319 billion in trades on Hyperliquid, the largest monthly volume ever for a DeFi derivatives venue. It now counts more than 600,000 users and ranks as the seventh-largest derivatives exchange overall. A recent outage briefly rattled traders but the team’s decision to reimburse $2 million in losses earned community support.
Not all coverage has been positive. Last week, suspicions of market manipulation surfaced after four large traders pocketed nearly $48 million on an obscure token spike, raising questions about fairness.
Yet optimism around Hyperliquid hasn’t cooled. At a Tokyo conference, BitMEX co-founder Arthur Hayes predicted the HYPE token could multiply more than 100x in the coming years as stablecoin adoption and platform fees expand.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/21shares-lists-first-hyperliquid-etp-on-six-swiss-exchange/