Hyperliquid perp DEX surges with TradFi volumes + ETF filings
Key Questions
What is driving Hyperliquid's recent growth?
Hyperliquid perp futures hit a 6.9% ATH with $1.7B volume and 25.9% share as TradFi volumes surge in S&P, oil, NVDA and TSLA markets. Institutional flows include a16z whale adding $15M HYPE.
What ETF filing targets Hyperliquid exposure?
21Shares filed for the THYP ETF on Nasdaq to provide exposure to Hyperliquid perpetual futures. This follows strong volume growth and whale accumulation of HYPE tokens.
What regulatory changes affect US crypto perps trading?
The CFTC approved Kalshi to launch the first federally regulated Bitcoin perpetual futures. Coinbase also received no-action relief to route US clients to Deribit, onshoring much of the offshore market.
6.9% perp futures ATH/S&P>oil/NVDA/TSLA booming; 21Shares THYP ETF filing Nasdaq; 25.9% vol/$1.7B; Jeff quant/HYPE $375M unlock/Triple-Dip/Hayes/JPM/Felix/Matrixport $197M longs/whale liqs; Anthropic $934B val; Binance/SNDK 10x/CHIPUSDT AI GPU perps; OKX BSB; Drift hack; Coinbase/KuCoin/Dubai/Australia; Solana/Bitget XAUT; ETH perps breakout tgt $2900. a16z whale adds $15M HYPE at $59, signaling institutional conviction. Major regulatory shift: CFTC approves first US-regulated Bitcoin perpetual futures on Kalshi, plus Coinbase no-action relief to route US clients to Deribit – onshores ~80% of offshore crypto derivatives market.