Watchlist Scored and tracked, but not rated for deep research yet — no full analysis. A coin moves up when its verdict reaches Moderate (6.0+) without an unlock-risk flag.

Hyperliquid (HYPE)

DEX Rank #31 UNLOCK RISK

5.7 /10

Score breakdown

Unlock	2/10
Tokenomics	7/10
Insider	8/10
Onchain	7/10
Dev Activity	1/10
Revenue	5/10
Institutional	6/10
Etf	5/10
Market Structure	8/10
Security	7/10

Analysis

Bitwise BHYP and 21Shares THYP spot Hyperliquid ETFs launched May 2026 in the US; BHYP posted the largest debut trading volume ($4.31M) of any 2026 US spot altcoin ETF launch. Separately, 21Shares has launched a Hyperliquid Staking ETP in Europe, making staking a live feature of HYPE exposure for European investors, with the product showing a YTD return of 226.54% as of October 2026. The combination of US spot product traction and a live European staking ETP broadens HYPE's institutional access across two major regulatory regimes. Risks remain tied to Hyperliquid's reliance on perpetuals trading volume and competitive dynamics among on-chain derivatives platforms.

Disclaimer: This analysis is for informational purposes only and is not investment advice. Crypto investments carry high risk. DYOR — Do Your Own Research.