- 21Shares’ Hyperliquid ETF recorded its strongest trading day yet with $8.1 million in volume and nearly $5 million in inflows.
- Analysts linked the surge partly to Coinbase becoming Hyperliquid’s official USDC treasury deployer.
- HYPE jumped sharply following the announcement and remained one of crypto’s best-performing assets.
- Hyperliquid ETFs are rapidly gaining traction as institutional interest in onchain derivatives grows.
- Combined inflows into Hyperliquid ETFs have already reached roughly $8.2 million.
Hyperliquid ETF Momentum Accelerates
The first-ever Hyperliquid ETF is already seeing growing investor demand only days after launch.
According to 21Shares Director of Capital Markets Michael Friedman, the company’s THYP ETF recorded its best trading session so far with $8.1 million in trading volume and approximately $4.9 million in net inflows.
The jump came shortly after Coinbase announced it would become Hyperliquid’s official treasury deployer for USDC.
That partnership will gradually phase out Hyperliquid’s native USDH stablecoin and deepen USDC integration throughout the ecosystem.
Coinbase Partnership Boosts Hyperliquid Narrative
The Coinbase integration is being viewed as a major validation event for Hyperliquid’s infrastructure and ecosystem growth.
USDC has already served as the dominant stablecoin on Hyperliquid since the platform launched in 2023. Now Coinbase will take a direct role in managing treasury deployment and stablecoin infrastructure across the network.
The announcement helped fuel strong gains in the HYPE token, which surged more than 14% during Thursday trading before settling slightly lower afterward.
Hyperliquid has rapidly become one of the most important decentralized perpetual futures trading platforms in crypto, with massive onchain derivatives volume and growing institutional attention.
Institutional Demand for Altcoin ETFs Expands
The strong inflows into THYP also show how investor appetite for crypto ETFs is increasingly expanding beyond Bitcoin and Ethereum.
Both 21Shares and Bitwise have now launched Hyperliquid-focused investment products, giving traditional investors exposure to HYPE without directly holding the token.
According to SoSoValue data, combined net inflows into Hyperliquid ETFs have already reached roughly $8.2 million.
The rapid launch of multiple HYPE-focused funds highlights how asset managers are racing to capitalize on growing demand for infrastructure-related crypto assets tied to decentralized trading and stablecoin ecosystems.
