21Shares, a leading issuer of crypto exchange-traded products, has introduced the first ETP tracking Hyperliquid on the SIX Swiss Exchange. The new product, called the 21Shares Hyperliquid ETP with ticker HYPE, provides institutional investors with regulated access to one of the fastest-growing decentralized exchanges in the market. The offering comes with a 2.50% fee and carries the ISIN CH1471826029.
Hyperliquid has grown rapidly since its launch in 2023. It has processed over $2.07 trillion in cumulative trading volume and currently facilitates more than $8 billion in daily activity. This dominance has secured nearly 80% of the decentralized perpetuals market, underscoring its position as a category leader.
A blueprint for financial market transformation
Hyperliquid doesn’t just operate like another decentralized exchange. It represents a strategic blueprint for future financial infrastructure, combining trading, blockchain, and development layers into a vertically integrated system. This approach mirrors how leading asset managers reshaped traditional ETF markets through scale and infrastructure ownership.
However, the platform’s appeal comes from its fundamentals and design. Hyperliquid operates entirely on-chain, eliminating reliance on external oracles and off-chain order matching. This architecture enables faster and more reliable execution, with liquidity levels surpassing those of its closest competitors. Zero-gas, one-click trading also delivers a user experience comparable to centralized exchanges, making it accessible to both retail and institutional participants.
21Shares strength in tokenomics & ecosystem expansion
Hyperliquid stands apart in the DeFi world because it has a sound tokenomics structure. Well over 95% of the revenues earned by the protocol are channeled into daily HYPE token buybacks, catalyzing consistent demand to help long-term value. Buybacks have exceeded $1 billion to date, with revenues in a given month exceeding $56 million. Showing great community alignment, the principal team has committed to tie up their own tokens until the year 2028.
But Hyperliquid is not just sophisticated tokenomics, it’s building from scratch a whole ecosystem. Hyperliquid Chain, with the high-performance HyperEVM, lets devs build decentralized apps, create tokens, and trade perpetual and spot contracts all in one platform. All-in-one contrasts sharply with fragmented competition.
Hyperliquid’s combination of scale, first-mover product innovation, and recurring revenue streams has produced the first genuine DeFi disruptor. And now, by introducing the HYPE product, 21Shares is bridging the gap between institutional investors and the burgeoning universe of decentralized finance, marrying legacy capital with next-gen blockchain-native infrastructure.
