The 21Shares Hyperliquid ETF recorded its strongest trading day Thursday with approximately $4.9 million [1] in net inflows.
This surge represents a significant increase in investor appetite for Hyperliquid exposure shortly after the fund's debut on the Nasdaq. The growth suggests that institutional and retail traders are quickly adapting to the availability of regulated crypto-tracking products in the U.S. market.
Trading volume on Thursday reached $8.1 million [1]. This activity follows a more modest start for the ETF, which saw $1.2 million [3] in net inflows and $1.8 million [4] in trading volume on its first day of operation earlier this week.
The spike in activity coincided with Coinbase becoming a USDC treasury deployer. This new role allows Coinbase to provide liquidity and increase exposure to the Hyperliquid token, which analysts said boosted overall investor interest [5].
By integrating Coinbase's treasury capabilities, the fund aims to stabilize the movement of assets and provide a more efficient bridge between traditional finance and the decentralized nature of the Hyperliquid ecosystem. The 21Shares product is among the first U.S. ETFs designed to track this specific asset class [6].
Market participants are monitoring whether this momentum is a temporary reaction to the Coinbase partnership or a long-term trend in asset allocation. The fund's ability to attract millions in capital within days of its launch indicates a high level of latent demand for Hyperliquid-based financial instruments.
“The 21Shares Hyperliquid ETF recorded its strongest trading day Thursday with approximately $4.9 million in net inflows.”
The rapid growth of the Hyperliquid ETF, coupled with Coinbase's role as a treasury deployer, signals a tightening integration between major U.S. exchanges and niche crypto assets. This move reduces the barrier to entry for institutional investors who prefer the security of a Nasdaq-listed vehicle over direct token ownership, potentially increasing the volatility and liquidity of the underlying asset.
