21Shares Seeks SEC Approval for Hyperliquid ETF Amid Surging Altcoin ETF Interest
21Shares filed an S-1 registration for a passive ETF tracking Hyperliquid's HYPE token amid high demand for altcoin ETFs.Summary
Asset manager 21Shares has applied to the SEC for a new exchange-traded fund, the 21Shares Hyperliquid ETF, designed to track the price of the HYPE token. This filing, submitted on October 29, is part of a growing trend of altcoin ETF applications reflecting increased institutional interest in regulated crypto exposure beyond Bitcoin and Ethereum.
The ETF will be a passive investment vehicle, aiming only to track HYPE's price without using leverage or derivatives. The filing indicates that CSC Delaware Trust Company will act as trustee, with Coinbase Custody and BitGo Trust Company serving as custodians. 21Shares noted that the fund may stake a portion of its HYPE holdings, generally intending to stake between 70% and 90% of its assets, provided it complies with legal and tax requirements.
This move follows similar filings by Bitwise and hints from VanEck regarding a HYPE ETF. The context is a market seeing strong demand for altcoin products, evidenced by the successful launches of Bitwise's Solana ETF (BSOL), which saw massive trading volume in its first days, and Canary Capital's Hedera (HBR) and Litecoin (LTCC) ETFs.
(Source：BeInCrypto)