21Shares Seeks SEC Approval for Hyperliquid ETF Amid Rising Altcoin Interest
Swiss-based asset supervisor 21Shares has filed with the US Securities and Exchange Commission (SEC) to launch a Hyperliquid (HYPE) exchange-traded fund (ETF) amid rising institutional urge for food for altcoin-linked funding merchandise.
Key Takeaways:
- 21Shares seeks SEC approval for a fund monitoring the HYPE token, signaling rising institutional demand for altcoin publicity.
- Asset supervisor Bitwise just lately filed for an analogous product.
- Strong buying and selling volumes in new Solana, Litecoin, and Hedera ETFs present Wall Street’s urge for food for altcoin-linked merchandise.
According to the filing submitted Wednesday, the proposed 21Shares Hyperliquid ETF will monitor the native token of the Hyperliquid perpetual futures protocol and blockchain.
The doc didn’t specify a ticker image or administration payment, although it listed Coinbase Custody and BitGo Trust as custodians.
Asset Managers Race to Launch Hyperliquid ETFs as HYPE Token Surges
The transfer comes simply weeks after Bitwise filed for a similar Hyperliquid ETF, underscoring intensifying competitors amongst asset managers to seize investor demand for publicity to decentralized buying and selling ecosystems.
The HYPE token powers Hyperliquid’s decentralized trade, providing customers payment reductions and serving because the fuel token for its blockchain.
Its worth has climbed steadily this yr, mirroring the protocol’s rising buying and selling quantity and person base.
The submitting arrives as Wall Street’s curiosity in altcoin-based ETFs continues to develop.
In latest days, Bitwise’s Solana Staking ETF (BSOL) has drawn strong market attention, posting $72 million in buying and selling quantity on its second day, in response to Bloomberg’s Eric Balchunas, who referred to as the determine “an enormous quantity” and an indication of sustained investor engagement past debut hype.
BSOL launched Tuesday alongside Canary Capital’s Litecoin (LTC) and Hedera (HBAR) ETFs. It recorded $55.4 million in first-day buying and selling, making it the most important crypto ETF debut of 2025.
Meanwhile, Grayscale joined the fray with the Grayscale Solana Trust ETF (GSOL), which started buying and selling Wednesday with $4 million in quantity.
While smaller than Bitwise’s launch, Balchunas mentioned GSOL’s efficiency was nonetheless “wholesome” and aggressive given its timing.
The SEC’s overview of 21Shares’ Hyperliquid ETF will decide whether or not one other altcoin-focused product joins the fast-growing roster of US-listed crypto ETFs in 2025.
Bitcoin ETFs See $470M Outflows as BTC Slips Below $110K After Fed Rate Cut
US-listed spot Bitcoin ETFs recorded $470 million in outflows on Wednesday, marking their worst day of the week as Bitcoin briefly dropped to $108,000 earlier than recovering, in response to Farside Investors.
Fidelity’s FBTC led the withdrawals with $164 million, adopted by ARK Invest’s ARKB at $143 million and BlackRock’s IBIT at $88 million.
The setback follows two robust periods earlier within the week, when the merchandise collectively attracted over $350 million in inflows.
Total cumulative web inflows have now fallen to $61 billion, whereas property beneath administration have slipped to $149 billion, representing about 6.75% of Bitcoin’s market capitalization, in response to SoSoValue.
Bitcoin’s worth motion mirrored the ETF outflows, buying and selling between $108,201 and $113,567 over the previous 24 hours.
The drop got here regardless of the US Federal Reserve’s 25 basis-point price reduce, although sentiment appeared to enhance barely after a gathering between US President Donald Trump and Chinese President Xi Jinping eased investor issues over commerce tensions.
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