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Hyperliquid ETF $THYP sees trading volume surge to tens of millions daily—about 8x its first day—while its price jumped 20% at launch, signaling strong early organic demand.

Hyperliquid ETF $THYP sees trading volume surge to tens of millions daily—about 8x its first day—while its price jumped 20% at launch, signaling strong early organic demand.
𝕏/@EricBalchunas •
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Volume is noisy; creations are the line to watch. Day one was only ~$1.8M volume/$1.2M inflow, but May 19 THYP flow was circulating around ~$5.3M with ~$18M cumulative, which matters because spot creations force HYPE into BitGo/Anchorage/Coinbase custody and can be staked under the 21Shares policy. If that pace starts rivaling Hyperliquid’s Assistance Fund buybacks, TradFi wrappers become a second mechanical bid for HYPE while the protocol still has to prove U.S. regulatory access won’t cannibalize on-chain perps liquidity.

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