First Institutional-Grade Product Offering Access to HYPE Token Debuts in Europe
Institutional investors can now access the Hyperliquid token (HYPE) via a newly launched exchange-traded product (ETP) on the SIX Swiss Exchange, courtesy of Switzerland-based asset manager 21Shares.
The listing marks the first time traditional investors can gain exposure to Hyperliquid’s native token without requiring wallets or onchain custody. The move underscores the growing demand for decentralized finance (DeFi) assets within regulated investment vehicles.
21Shares Expands Crypto ETP Lineup
In its announcement, 21Shares highlighted Hyperliquid’s rapid rise as one of the leading platforms for decentralized derivatives, processing over $8 billion in daily trading volume and $2 trillion in cumulative trades since its 2023 launch. The protocol currently accounts for about 80% of all decentralized perpetual futures activity.
“Hyperliquid’s growth has been nothing short of extraordinary, and the underlying economics are among the most compelling we’ve seen in the space,” said Mandy Chiu, Head of Financial Product Development at 21Shares.
The product launch follows HYPE’s record price surge to $50.99, adding to investor interest.
21Shares, founded in 2018, has a reputation for pioneering regulated crypto investment products, including the first physically backed crypto ETP. Its product range spans spot Bitcoin and Ether ETFs in the U.S. and numerous crypto ETPs in Europe, covering assets such as Solana (SOL), Dogecoin (DOGE), and staking-focused baskets.
Hyperliquid’s Growth and Market Impact
Hyperliquid operates as a layer-1 blockchain with a decentralized exchange for perpetual futures, running an onchain order book rather than automated market makers. Trades are executed in under a second without off-chain infrastructure, while fees are reinvested through daily buybacks of the HYPE token.
The model has fueled record-breaking activity, with $319 billion in monthly trading volume in July, capturing 35% of all blockchain revenue, according to VanEck analysts. Hyperliquid now ranks as the seventh-largest derivatives exchange globally, boasting over 600,000 registered users.
Despite a $48 million suspected market manipulation incident and a brief outage in July, optimism remains high. Arthur Hayes, BitMEX co-founder, recently predicted HYPE could rise 126x in three years, citing growing stablecoin adoption and soaring fee revenue.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.