First Spot ETF for a Very Popular Altcoin Launched in the US! Here’s What You Need to Know and a Bloomberg Analyst’s Commentary!

In the US, spot ETFs have been launched for many altcoins after Bitcoin and Ethereum. One of them is Hyperliquid (HYPE). This ETF is the first of its kind to begin trading for the altcoin named HYPE.

At this point, the 21 Shares Hyperliquid (THYP) ETF was newly launched and recorded a trading volume of approximately $1.8 million on its first day.

Bloomberg ETF analyst James Seyffart stated that the THYP ETF recorded a trading volume of $1.8 million on its first day, indicating a very good performance for a new launch.

He added that this figure is a good level for a typical new ETF launch, but it doesn’t represent an explosive success.

While more HyperLiquid-related ETFs are expected to be launched on the market, James Seyffart added that Bitwise’s HyperLiquid ETF will also be launched soon and will be the next example of HYPE.

Bitwise has already launched a European Hyperliquid Staking ETP on the Deutsche Börse Xetra and is preparing to launch a spot HYPE ETF in the US. In addition, Grayscale is also planning to launch a HYPE ETF.

*This is not investment advice.

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