- 21Shares filed with the SEC to launch a Hyperliquid ETF offering exposure to HYPE tokens.
- HYPE token surged 32% in a week, reaching $47.55 with rising DeFi liquidity and demand.
- Hyperliquid’s TVL grew 10.9% in one week as its vault APR hit 160%, boosting investor confidence.
21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund tied to Hyperliquid’s native token, HYPE. The move adds to a growing wave of crypto ETF proposals and positions 21Shares among issuers expanding regulated access to decentralized finance exposure in the U.S. market.
21Shares Seeks SEC Approval for Hyperliquid ETF
On October 29, 2025, 21Shares submitted a Form S-1 registration to the SEC proposing the 21Shares Hyperliquid ETF. If approved, this would become the second Hyperliquid-focused ETF after Bitwise’s filing in September. The ETF aims to give institutional and retail investors exposure to the native HYPE token of the Hyperliquid decentralized exchange.
According to the filing, Coinbase Custody Trust Company and BitGo Trust Company will act as custodians for the fund. The document describes HYPE as a digital asset, stating that holding and trading it differs from conventional securities like stocks or bonds.
This filing arrives as the SEC reviews over 90 crypto-related ETF applications, including proposals linked to Solana, Cardano, XRP, and Dogecoin. The growing number of filings reflects renewed institutional appetite for diversified digital asset investment vehicles amid improving regulatory clarity and sustained market demand.
Hyperliquid’s DeFi Growth Drives ETF Interest
Hyperliquid operates as a decentralized exchange focused on perpetual futures trading and has gained traction in the decentralized finance sector. Its native token, HYPE, ranks as the 16th-largest cryptocurrency, with a $12.7 billion market capitalization, according to data from CoinGlass.
Market data shows HYPE trading at $47.55, up 2.7% over the past 24 hours and more than 32% in the past week, based on CoinGecko figures. Analysts noted that the token’s strong price momentum aligns with increasing liquidity and activity across DeFi protocols.
Hyperliquid’s liquidity provider vault offers an annual percentage return of around 160%, surpassing other decentralized derivatives platforms. Total value locked (TVL) on the network rose by 10.9% in one week, marking the highest growth among major DeFi exchanges and reinforcing investor confidence in the protocol’s expanding utility.
