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According to The Block, Bloomberg ETF analyst James Seyfart stated that the first trading day turnover of 21Shares' Hyperliquid ETF was $1.8 million, which was "very robust" and better than the issuance of regular ETFs, but not at an astonishing level. This fund is the first Hyperliquid ETF, and investors do not need to hold HYPE tokens to gain price exposure. As a comparison, the first spot XRP ETF had a first day trading volume of $58 million, while the first Solana ETF had a trading volume of $57 million. Seyfart predicts that Bitwise's Hyperliquid ETF may become the next listed product.