21Shares Files for 2x Leveraged HYPE ETF with U.S. SEC
Swiss asset manager 21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch a 2x leveraged ETF for the Hyperliquid (HYPE) token. The ETF aims to provide investors with double daily exposure to HYPE.
If approved, this would be the first U.S.-listed leveraged ETF tracking a DeFi protocol’s token performance. The fund targets traders seeking high-beta exposure to Hyperliquid’s growing on-chain trading ecosystem.
The filing builds on 21Shares’ previous launches, including its DOGE ETF. It follows the HYPE ETP listing on the SIX Swiss Exchange, which gave European institutional investors access to HYPE without managing wallets or custody.
This ETF will use swaps instead of direct custody. It introduces new funding and counterparty risks. Initial capacity is estimated between $500 million and $1.5 billion, depending on HYPE’s market liquidity.
Growing Interest in Hyperliquid ETFs
21Shares’ filing comes after similar applications by Bitwise and VanEck for U.S.-listed HYPE ETFs. Bitwise plans to hold HYPE tokens directly. VanEck intends to include staking yields and potential buybacks linked to fund performance.
The recent HIP-3 upgrade on Hyperliquid allows creators to launch perpetual markets without centralized approval. This upgrade enhances HYPE’s liquidity and utility.
As DeFi adoption grows, these ETF filings could make HYPE a key asset for investors seeking innovative crypto exposure in traditional markets.
About 21Shares
- Swiss asset manager specializing in crypto ETFs
- Known for launching the DOGE ETF and other crypto products
- Focuses on bridging crypto assets with traditional finance
For more details, view the SEC filing.
