21Shares US LLC has filed a Form S-1 registration with the U.S. SEC seeking approval for the Hyperliquid ETF, offering exposure to the HYPE token.
This development highlights increasing institutional interest in DeFi, potentially accelerating HYPE adoption and market performance, affecting related cryptocurrencies.
21Shares Aligns with FalconX for SEC Filing
21Shares has submitted a Form S-1 to the U.S. SEC for their new ETF focused on HYPE token exposure. This decision follows the company's acquisition by FalconX.
The ETF seeks to track both the US dollar price and staking yield of HYPE. This initiative involves Coinbase Custody and BitGo Trust as custodians. As BitGo Trust Company noted, "Our partnership with 21Shares demonstrates a commitment to ensuring the safety and security of institutional investment in blockchain assets."
HYPE Token Value Locked Increases 10.9%
Institutional investors might see increased returns, as HYPE token's total value locked surged 10.9%. Robinhood's addition of HYPE enhances U.S. retail access.
Market effects may include potential growth in DeFi inflows and an increase in staking activity. HYPE price rebounding from recent lows marks investor interest.
Comparison with Previous Crypto ETF Launches
This filing parallels previous ETF proposals, like Bitwise's earlier this year. Similar crypto ETF launches have attracted substantial fund inflows.
Expected outcomes depend on regulatory approvals and investor sentiment, with previous ETF inflows indicating a trend toward sustained interest in DeFi assets.
"The filing indicates a growing institutional interest in DeFi assets and aims to provide a regulated pathway for investors to access HYPE." —21Shares US LLC
Key Information
- •21Shares filed a Hyperliquid ETF with the U.S. SEC, providing regulated exposure to the HYPE token.
- •This move has the potential to increase DeFi inflows and impact market performance for related cryptocurrencies like ETH and BTC.
- •Robinhood's listing of HYPE has expanded retail access to the token.