21Shares has launched the Hyperliquid ETP on the SIX Swiss Exchange, providing institutional investors their first opportunity to gain exposure to the Hyperliquid token without the need for wallets or on-chain custody. Hyperliquid, a decentralized derivatives platform, claims to process over $8 billion in daily volume and has executed $2 trillion worth of trades since its launch in 2023. This venture follows the Hyperliquid token (HYPE) hitting a peak price of $50.99. Mandy Chiu, head of financial product development at 21Shares, acknowledges Hyperliquid's impressive growth and its compelling economic model. Hyperliquid operates using a traditional on-chain order book, distinguishing itself from typical DeFi platforms. Despite recent criticism regarding market integrity associated with large trader activities, optimism remains high for the protocol's future. Significant user engagement and trading activity continue, with the platform also ranking as a top derivatives exchange by daily volume.

Source đź”—