21Shares Seeks SEC Approval for Hyperliquid ETF Amid Rising Altcoin Interest

Swiss-based asset manager 21Shares has filed with the US Securities and Exchange Commission (SEC) to launch a Hyperliquid (HYPE) exchange-traded fund (ETF) amid growing institutional appetite for altcoin-linked investment ￰0￱ Takeaways: 21Shares seeks SEC approval for a fund tracking the HYPE token, signaling growing institutional demand for altcoin ￰1￱ manager Bitwise recently filed for a similar ￰2￱ trading volumes in new Solana, Litecoin, and Hedera ETFs show Wall Street’s appetite for altcoin-linked ￰3￱ to the filing submitted Wednesday , the proposed 21Shares Hyperliquid ETF will track the native token of the Hyperliquid perpetual futures protocol and ￰4￱ document did not specify a ticker symbol or management fee, though it listed Coinbase Custody and BitGo Trust as ￰5￱ Managers Race to Launch Hyperliquid ETFs as HYPE Token Surges The move comes just weeks after Bitwise filed for a similar Hyperliquid ETF , underscoring intensifying competition among asset managers to capture investor demand for exposure to decentralized trading ￰6￱ HYPE token powers Hyperliquid’s decentralized exchange, offering users fee discounts and serving as the gas token for its ￰7￱ price has climbed steadily this year, mirroring the protocol’s rising trading volume and user ￰8￱ filing arrives as Wall Street’s interest in altcoin-based ETFs continues to ￰9￱ recent days, Bitwise’s Solana Staking ETF (BSOL) has drawn strong market attention , posting $72 million in trading volume on its second day, according to Bloomberg’s Eric Balchunas, who called the figure “a huge number” and a sign of sustained investor engagement beyond debut hype. $BSOL did more volume on Day Two.. $72m is a huge ￰10￱ ￰11￱ — Eric Balchunas (@EricBalchunas) October 29, 2025 BSOL launched Tuesday alongside Canary Capital’s Litecoin (LTC) and Hedera (HBAR) ￰12￱ recorded $55.4 million in first-day trading, making it the largest crypto ETF debut of 2025.

Meanwhile, Grayscale joined the fray with the Grayscale Solana Trust ETF (GSOL), which began trading Wednesday with $4 million in ￰13￱ smaller than Bitwise’s launch, Balchunas said GSOL’s performance was still “healthy” and competitive given its ￰14￱ SEC’s review of 21Shares’ Hyperliquid ETF will determine whether another altcoin-focused product joins the fast-growing roster of US-listed crypto ETFs in ￰15￱ ETFs See $470M Outflows as BTC Slips Below $110K After Fed Rate Cut US-listed spot Bitcoin ETFs recorded $470 million in outflows on Wednesday, marking their worst day of the week as Bitcoin briefly dropped to $108,000 before recovering, according to Farside Investors.

Fidelity’s FBTC led the withdrawals with $164 million, followed by ARK Invest’s ARKB at $143 million and BlackRock’s IBIT at $88 ￰16￱ setback follows two strong sessions earlier in the week, when the products collectively attracted over $350 million in ￰17￱ cumulative net inflows have now fallen to $61 billion, while assets under management have slipped to $149 billion, representing about 6.75% of Bitcoin’s market capitalization, according to SoSoValue. Bitcoin’s price action mirrored the ETF outflows, trading between $108,201 and $113,567 over the past 24 ￰18￱ drop came despite the US Federal Reserve’s 25 basis-point rate cut, though sentiment appeared to improve slightly after a meeting between US President Donald Trump and Chinese President Xi Jinping eased investor concerns over trade tensions.