21Shares Files for Hyperliquid ETF to Track HYPE Token
21Shares has filed a Form S-1 registration with the US Securities and Exchange Commission to launch a spot Hyperliquid ETF that tracks the HYPE token. The proposed Hyperliquid ETF, sponsored by 21Shares US LLC, will appoint Coinbase Custody Trust Company and BitGo Trust Company as custodians. This move follows a similar Bitwise Hyperliquid ETF proposal, creating two issuers targeting the same token. The filings underscore growing US demand for regulated altcoin ETFs beyond Bitcoin and Ethereum. Separately, Bitwise’s Solana Staking ETF (BSOL) recorded $55.4m in day-one inflows and $72m on day two, setting a new liquidity benchmark against simultaneous Litecoin and Hedera ETF launches.
Bullish
The dual ETF filings by 21Shares and Bitwise are likely bullish for HYPE. In the short term, the SEC registration boosts market sentiment and visibility for the token. If approved, the Hyperliquid ETF would open new retail and institutional demand channels, increasing HYPE’s trading volume and reducing circulating supply. Historically, the launch of regulated Bitcoin and Ether products led to significant price appreciation. Over the long term, adding HYPE to a regulated ETF lineup could drive sustained inflows and greater liquidity, reinforcing a positive price trajectory.