Bloomberg’s senior ETF analyst, Eric Balchunas, said that Hyperliquid ETF THYP, a HYPE-focused ETF product, has seen strong growth in trading volume since its launch.
Balchunas stated that the daily trading volume of the THYP ETF is increasing day by day and has now reached tens of millions of dollars, noting that the volume has increased approximately 8 times compared to the first trading day. According to the analyst, this indicates that investor interest is growing organically.
On the other hand, Hyperliquid’s native token, HYPE, has risen by over 110% since the beginning of 2026. Thus, HYPE has outperformed major crypto assets and sector stocks such as Bitcoin, Ethereum, XRP, Solana, BNB, Dogecoin, and COIN. These assets are noted to have experienced double-digit declines since the beginning of the year.
Crypto journalist Frank Chaparro stated that Hyperliquid has quietly become one of the dominant revenue engines in the crypto market. According to Chaparro, the platform alone accounts for 43% of total blockchain transaction fees, with approximately $11 million in weekly on-chain fee revenue. The intense activity in perpetual futures trading reportedly generates more revenue than most other on-chain use cases.
*This is not investment advice.
