Hyperliquid's Price Surges 0.416% as 21Shares Launches First ETP on SIX Swiss Exchange

Hyperliquid's latest price was $44.28, up 0.416% in the last 24 hours. Hyperliquid, a decentralized perpetuals exchange, has been making significant strides in the cryptocurrency market. Recently, a newly created wallet address received 85,200 HYPE tokens from FalconX over the past five days, highlighting the growing interest and activity around the platform.

21Shares has launched the world’s first exchange-traded product (ETP) tracking Hyperliquid on the SIX Swiss Exchange. This move provides institutional investors with regulated exposure to Hyperliquid, a leading decentralized perpetuals platform. The ETP, with the ticker HYPE, is a major development in the decentralized finance (DeFi) space, offering a regulated and familiar financial product for institutional investors to gain access to the cutting-edge DeFi platform.

Since its launch in 2023, Hyperliquid has experienced remarkable growth. It has registered more than $2.07 trillion in cumulative trading volume and handles over $8 billion in daily transactions, making up about 80% of the total decentralized perpetuals market. This dominance has positioned Hyperliquid as a key player in the sector, attracting both developers and institutional investors.

Hyperliquid stands at the intersection of several prominent financial trends, including the rise of crypto derivatives, the shift toward decentralized infrastructure, and the expansion of blockchain-native financial systems. These trends have thrust the platform into the spotlight, making it a go-to figure in the decentralized perpetuals market.

The platform’s tokenomics and revenue model are considered among the strongest in the crypto space. Over 95% of the protocol revenue generated is used to buy back HYPE tokens daily, driving long-term demand. To date, there have been more than $1 billion in buybacks. Additionally, the platform generates over $56 million per month, making it self-sustaining. Hyperliquid has turned down venture capital funding and instead allocated 76% of tokens to the community, with team tokens locked until 2028, further reiterating its long-term commitment.

Hyperliquid’s technology sets a new benchmark for decentralized trading. Unlike many competitors, it is completely on-chain, with no off-chain matching systems, oracles, or other external components. This form generates quicker and more consistent trades. With a trading volume more than 10 times its closest competitors, it is not only fast but also liquid. The platform also offers a one-click zero gas transaction feature that makes it as easy to use as centralized exchanges. Collaborations with wallets like Phantom wallet have helped extend its reach to users.

Hyperliquid enables an end-to-end decentralized finance (DeFi) ecosystem. It uses the Hyperliquid Chain and HyperEVM, allowing external developers to develop directly within the system. This integrated structure merges spot trading, perpetuals, token issuance, and application development all under a single hood. Such vertical integration means that Hyperliquid is able to control quality, security, and scalability across the entire platform.

As financial institutions increasingly focus on crypto for growth, regulated products such as the HYPE ETP can be a critical factor. They cater to investor needs for transparency and security while providing access to powerful blockchain technologies. Therefore, the launch of this ETP may be a turning point for both Hyperliquid and the broader crypto investment market.

Hyperliquid continues demonstrating significant traction as institutional adoption grows through new regulated products and notable market participation. The decentralized exchange recently gained formal accessibility via traditional financial instruments with 21Shares listing the first dedicated Hyperliquid Exchange Traded Product on SIX Swiss Exchange. This strategic development offers regulated pathways for institutional capital seeking exposure to Hyperliquid's infrastructure, specifically its perpetual contracts platform.

Platform activity reveals substantial engagement from sophisticated traders, evidenced by significant leverage positions initiated using Hyperliquid. Blockchain analytics detected sizable on-chain movements where new wallets deposited substantial capital specifically to open large-scale ETH short and long positions at 25x and 20x leverage respectively. Concurrently, reports identified notable market maker TechnoRevenant holding extremely large ETH perpetual swap long positions valued at approximately $28.9 million exclusively on Hyperliquid, representing a significant 13.4% of the global total for that specific contract at the time of monitoring. This concentration highlights Hyperliquid's growing appeal for executing substantial derivative strategies.

Beyond trading volumes, Hyperliquid is generating notable platform-level revenues. Analysis indicates its revenue metrics recently exceeded benchmark figures recorded by both established Layer-1 networks Ethereum and Solana. This performance underscores Hyperliquid's operational efficiency and capturing market share within the derivatives sector. The platform's traction has also garnered prominent industry endorsements; BitMEX co-founder Arthur Hayes publicly advocated for Hyperliquid as the key decentralized exchange poised to capitalize on expanding stablecoin flows, citing significant fundamental growth potential relative to its current standing.