worldcoinindex.com
Asset management giant 21Shares has officially filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to Hyperliquid’s native token, HYPE, marking another step in the accelerating wave of altcoin-focused ETFs entering U.S. markets.
The filing, submitted on October 29, outlines the 21Shares Hyperliquid ETF as a passive investment vehicle that mirrors the market price of HYPE without employing leverage, derivatives, or speculative trading strategies.
According to the S-1 registration statement, the CSC Delaware Trust Company will act as trustee, while Coinbase Custody and BitGo Trust Company will provide secure digital asset custody.
21Shares also indicated potential plans to stake a portion of the fund’s HYPE holdings to generate rewards, provided such actions align with regulatory and tax guidelines. The firm’s model suggests that 70% to 90% of its HYPE assets could be staked at any given time, based on utilization metrics and market conditions.
Details on which exchange will list the ETF and the benchmark index that will track HYPE’s price have yet to be finalized.
The filing places 21Shares alongside Bitwise, which submitted its own HYPE ETF proposal last month, and VanEck, which has signaled similar plans for both the U.S. and European markets.
Institutional Interest Shifts Toward Altcoins
The move comes amid an explosion of interest in regulated altcoin products. As of late October, the SEC is reviewing over 150 crypto ETF applications, reflecting deep institutional appetite for diversified exposure beyond Bitcoin and Ethereum.
Recent launches underscore this momentum. On October 28, Bitwise’s Solana ETF (BSOL) debuted with $56 million in first-day trading volume, outperforming over 850 ETF launches in 2025. The next day, BSOL volume climbed to $72 million, indicating persistent demand.
At the same time, Canary Capital’s Hedera ETF (HBR) and Litecoin ETF (LTCC) began trading, logging $8 million and $1 million in day-one volumes, respectively — both maintaining those levels into their second day.
Bloomberg ETF analyst Eric Balchunas noted that the stable performance “is still strong,” as most new ETFs typically decline after launch-day excitement fades.
With institutional players like 21Shares, Bitwise, and VanEck expanding their altcoin product lines, the crypto ETF landscape is evolving rapidly — signaling a shift toward broader blockchain ecosystem exposure and a maturing digital asset market under increasing regulatory clarity.