First U.S. spot Hyperliquid ETF debuts with $1.8M volume; HYPE price dips 4% amid inflation shock.

The first U.S. spot Hyperliquid (HYPE) ETF by 21Shares launched with $1.8 million in trading volume and $1.2 million in net inflows on May 12. The fund was initially seeded with $725K by the asset manager to ensure liquidity. Despite a solid debut, the trading volume was modest compared to other crypto ETFs like Solana and XRP, which saw over $50 million on day one. HYPE's price fell 4.2% to $40 due to a broader crypto market pullback triggered by hotter-than-expected U.S. inflation data. The altcoin remains above a key bullish support level, suggesting potential for recovery if support holds. Future ETF launches and fee competition are expected in this space.