Hyperliquid ETFs THYP and BHYP see $25.5 million net inflow on Wednesday

A pair of newly launched exchange-traded funds tied to the Hyperliquid ecosystem have seen a significant and accelerating influx of investor capital in their first week of trading, defying typical patterns for new financial products. The funds, issued by 21Shares and Bitwise, recorded a combined $25.5 million in net inflows on Wednesday alone, a figure that exceeded their total inflows from the previous five days.

The 21Shares Hyperliquid ETF (THYP) launched on May 12, followed by Bitwise’s competing fund (BHYP) on May 15. According to data from SoSoValue, the two products have together attracted over $22 million in cumulative net inflows since their debut. Trading volume has surged alongside the inflows, with the 21Shares fund seeing daily turnover climb from approximately $1.8 million on its first day to nearly $14.08 million, a jump of over 680 percent.

Analysts described the steady build in volume and inflows as unusual. Bloomberg ETF analyst Eric Balchunas noted that most new ETFs typically see a large first-day volume that then declines, whereas the Hyperliquid products have gained momentum through their first week, which he called a sign of strong organic investor demand.