21Shares Files for U.S. ETF to Unlock HYPE Token Exposure

21Shares has filed for an SEC-registered ETF that provides regulated exposure to the HYPE token, a key asset of the Hyperliquid blockchain. This move marks significant progress in institutional adoption of DeFi and could boost HYPE’s liquidity, potentially influencing related cryptocurrencies like ETH and BTC. 21Shares partnered with FalconX, which acquired them, for this SEC filing. 21Shares’ new ETF seeks to track both the USD price and staking yield of HYPE. Coinbase Custody and BitGo Trust act as custodians for this ETF, emphasizing security and compliance for institutional investors.