21Shares Launches Hype ETF After Acquisition by FalconX

Digital asset manager 21Shares has filed for approval to launch an exchange-traded fund (ETF) tracking the Hype token of the Hyperliquid network. This application follows last week’s acquisition of 21Shares by digital assets trading firm FalconX, marking another step in the growing number of cryptocurrency ETF applications awaiting SEC review. The filing comes amid a backlog in approvals for new spot crypto ETFs due to ongoing staff shortages at the Securities and Exchange Commission.