First U.S. spot Hyperliquid ETF debuts, boosting institutional crypto exposure with 0.30% fee

The first U.S. spot Hyperliquid (HYPE) ETF launched on Nasdaq with a 0.30% annual fee, opening institutional access to the growing crypto and tokenized perpetual contracts market. Hyperliquid's integration with wallets like Phantom has generated $20 million in revenue, highlighting strong ecosystem adoption. Whale accumulation of HYPE surged 272% recently, although increased exchange supply suggests possible selling pressure. The ETF debut is a key milestone that could drive demand, but price stability above $40 remains uncertain amid market dynamics.