21Shares’ Hyperliquid ETF debuted in the US to a “very solid day” of trading, despite volumes being below comparatively buzzy crypto ETF debuts. Crypto asset manager 21Shares’ first Hyperliquid exchange-traded fund in the US drew $1.2 million in net inflows and saw $1.8 million in trading volume on its Nasdaq debut. “Very very solid day and better than your average ETF launch for sure but nothing too crazy,” Bloomberg analyst James Seyffart said as the ETF finished its first day of trading on Tuesday. Still, the 21Shares Hyperliquid ETF (THYP) debut trading volume was a fraction of the volume compared to earlier buzzy crypto ETFs, such as the Bitwise Solana Staking ETF (BSOL), which attracted $56 million on its opening day in late October, and the Canary XRP ETF (XRPC), which brought in $58 million on its debut in November. Read more
The Commodity Futures Trading Commission has urged the Sixth Circuit Court of Appeals to rule that the agency has jurisdiction over prediction markets. The US Commodity Futures Trading Commission has backed Kalshi in the company’s legal fight against the state of Ohio, asking an appeals court to affirm that the regulator has jurisdiction over prediction markets. The CFTC filed an amicus brief in the Sixth Circuit Court of Appeals on Tuesday, accusing Ohio of “jurisdictional overreach” after state authorities told Kalshi last year to stop offering sports event contracts in the state, calling them unlicensed sports gambling. Kalshi sued Ohio authorities in October, seeking to have a federal court stop the Ohio Casino Control Commission and the state attorney general from taking action, but the court denied the request in March, leading Kalshi to appeal the decision. Read more