In a significant development for the crypto market, institutional investors now have direct access to Hyperliquid’s native token (HYPE) through a new investment product listed in Europe. Switzerland-based asset manager 21Shares, a leader in crypto exchange-traded products (ETPs), recently launched a Hyperliquid ETP on the SIX Swiss Exchange—marking a critical milestone in bringing decentralized finance (DeFi) to traditional financial systems.
What is Hyperliquid?
Hyperliquid, launched in 2022, has quickly risen to prominence as a cutting-edge decentralized exchange (DEX) for perpetual futures trading. Unlike many DeFi platforms that rely on automated market makers, Hyperliquid employs a traditional onchain order book for precise trade execution. The platform boasts almost-instant trade settlement without the need for off-chain infrastructure, making it one of the most reliable blockchain-based protocols available.
With more than $8 billion processed daily and over $2 trillion in total trading volume since its inception, Hyperliquid has emerged as a top venue for decentralized derivatives. The protocol has particularly gained traction in 2023, with the HYPE token hitting an all-time high of $50.99. Furthermore, trading fees are reinvested into the system through daily buybacks of the HYPE token, fueling its rapid growth and investor confidence.
21Shares’ Crypto Innovation
21Shares is widely recognized for pioneering regulated crypto investment products, including the first physically backed Bitcoin and Ethereum exchange-traded funds (ETFs). Its portfolio of ETPs includes single-asset products for cryptocurrencies like Solana (SOL) and Dogecoin (DOGE) as well as diversified crypto baskets and staking-focused funds. The addition of the Hyperliquid ETP demonstrates the firm’s commitment to offering innovative solutions for investors seeking exposure to DeFi and blockchain projects.
Why Does This Matter for Investors?
The launch of the Hyperliquid ETP provides institutional investors with simplified access to one of DeFi’s most promising platforms without requiring direct wallet integration or onchain custody. According to industry experts, Hyperliquid’s unique order book model and its record growth in decentralized perpetual trading make it a compelling long-term investment opportunity.
For instance, in July 2023, Hyperliquid handled $319 billion in trades—the highest monthly volume ever recorded for a decentralized perpetuals exchange. This surge in activity allowed Hyperliquid to contribute 35% of blockchain revenue that month, outperforming competitors like Solana, Ethereum, and Binance Smart Chain, according to data from DefiLlama and VanEck analysts.
The Future of HYPE Token
Despite facing challenges such as a market manipulation incident involving Plasma’s XPL token and a brief trading outage in July, Hyperliquid’s transparent and community-focused response has boosted trader confidence. The company reimbursed $2 million to affected users following the outage, showcasing a commitment to integrity.
Looking ahead, prominent industry figures remain bullish about Hyperliquid’s future. Speaking at the WebX 2025 conference, Arthur Hayes, co-founder of BitMEX, predicted that the HYPE token could experience a 126-fold increase in value within the next three years. Hayes attributed his optimism to the platform’s increasing fee revenue and the growing adoption of DeFi mechanisms worldwide.
How to Get Started
For retail investors interested in gaining exposure to the HYPE token indirectly, the Hyperliquid ETP by 21Shares offers an ideal solution. It provides a bridge between traditional finance and DeFi innovations, enabling broader participation in this high-growth sector. You can explore this product on the 21Shares website.
Crypto Investing with Confidence
As the cryptocurrency market matures, opportunities like the Hyperliquid ETP highlight a growing alignment between DeFi and institutional finance. Whether you’re new to the world of DeFi or an experienced investor, this new product offers an excellent way to diversify your portfolio and stay ahead in the rapidly evolving digital economy.
