The Swiss issuer of crypto exchange-traded products (ETPs) has announced the launch of the 21Shares Hyperliquid ETP (HYPE) on SIX Swiss Exchange. The product offers investors institutional-grade exposure to Hyperliquid.
According to a press release, the project represents a blueprint for the future of global financial markets. Positioned at the intersection of three key trends - the growth of crypto derivatives, the transition to decentralized infrastructures, and the rise of blockchain-based financial systems - the young crypto project has quickly established itself as a market leader in perpetual futures trading.
Hyperliquid: one of the highest-volume blockchain protocols
Since its launch in 2023, Hyperliquid has enabled a cumulative trading volume of more than USD 2.07 trillion and now processes over USD 8 billion daily, accounting for 80 percent of decentralized perpetuals. Hyperliquid lays the foundation for long-term disruption by vertically integrating trading, blockchain, and development layers – a strategy reminiscent of how leading asset managers redefined ETFs through scale, trust, and infrastructure ownership.
According to the press release, Hyperliquid’s appeal is based on its strong fundamentals and differentiated architecture:
- Robust economic and revenue model: More than 95 percent of protocol revenues are used daily to buy back HYPE tokens, creating constant market demand. To date, over USD 1 billion worth of buybacks have been executed – an unmatched volume in this sector. With monthly revenues exceeding USD 56 million, Hyperliquid is a self-sustaining business that forgoes venture capital and instead allocates 76 percent of token supply to the community. Team tokens are locked until 2028 to ensure long-term alignment.
- A new standard in decentralized trading: Hyperliquid operates fully on-chain without relying on external service providers or infrastructure such as off-chain order matching. This enables faster, more reliable trades and higher liquidity with volumes more than ten times greater than its nearest competitors. One-click, zero-gas execution mirrors the user experience of centralized exchanges. Strategic integrations, such as with the Phantom wallet, have further expanded reach.
- An end-to-end DeFi ecosystem: Powered by the Hyperliquid Chain and HyperEVM, the platform enables external developers to build natively within its high-performance environment. Unlike fragmented competitors, Hyperliquid integrates spot trading, perpetuals, token issuance, and application development within a vertically aligned system – a complete functional stack for decentralized finance.
Investment through a regulated product
The 21Shares Hyperliquid ETP (HYPE, CH1471826029) will list on SIX Swiss Exchange and is fully physically backed. The issuer charges an annual fee of 2.50%.
"Hyperliquid is doing for decentralized derivatives what the best ETF issuers have done for traditional markets – building infrastructure with a long-term vision. Hyperliquid’s growth has been truly extraordinary, and its underlying economic fundamentals are among the most compelling we have seen in this space. With HYPE, we are providing investors with an institutional-grade way to access one of the fastest-growing areas of cryptocurrency – all through the familiar and trusted ETP structure." - Mandy Chiu, Head of Financial Products Development at 21Shares
