21Shares, an issuer of crypto exchange-traded products (ETPs), today announced the launch of the 21Shares Hyperliquid ETP on the SIX Swiss Exchange.

The product provides investors with institutional-grade exposure to Hyperliquid, a next-generation decentralized exchange (DEX).

Since its 2023 launch, the protocol has facilitated over $2.07 trillion in cumulative trading volume and now processes more than $8 billion daily, accounting for 80% of decentralized perpetuals. Hyperliquid is laying the groundwork for long-term disruption by vertically integrating trading, blockchain, and development layers, a strategy reminiscent of how leading asset managers redefined ETFs through scale, trust, and infrastructure ownership.

“Hyperliquid is doing for decentralized derivatives what the best ETF issuers did for traditional markets – building at the infrastructure level with a long-term vision,” said Mandy Chiu, Head of Financial Product Development at 21Shares. “Its growth has been nothing short of extraordinary, and the underlying economics are among the most compelling we’ve seen in the space. With HYPE, we’re giving investors an institutional-grade way to access one of the fastest-growing corners of crypto – all through the familiar ETP structure they trust.”