21Shares Seeks Approval for Hyperliquid ETF Amid Rising Crypto Demand
- 21Shares has filed to list an exchange-traded fund (ETF) focused on Hyperliquid’s native token, HYPE.
- Hyperliquid is a decentralized exchange specializing in perpetual futures trading.
- HYPE ranks as the 16th largest cryptocurrency by market capitalization, valued at $12.7 billion.
- The SEC is reviewing over 90 applications for crypto-focused ETFs, including those tracking altcoins like Solana, Cardano, XRP, and Dogecoin.
- Bitcoin and Ethereum funds have been successful, managing $155 billion and $23.4 billion in assets respectively.
The filing by 21Shares aims to provide investors with exposure to the HYPE token through a regulated financial product amid growing interest in crypto ETFs. The SEC’s consideration of numerous ETF applications highlights the increasing demand for diversified cryptocurrency investment options.
With the success of Bitcoin and Ethereum funds paving the way, asset managers are eager to meet investor demand for new crypto-focused products like the proposed Hyperliquid ETF. (Source)
