Key Points
- Asset manager 21Shares US LLC has filed an S-1 registration statement with the SEC for a new ETF tracking the HYPE token.
- The ETF aims to track the US dollar price performance and staking yield of HYPE, the native token of the Hyperliquid network.
21Shares US LLC, an asset management firm, has submitted a new S-1 registration statement with the US Securities and Exchange Commission (SEC). This is for the proposed “21Shares Hyperliquid ETF,” an exchange-traded fund (ETF) that intends to follow the US dollar price performance and staking yield of HYPE, the native token of the Hyperliquid network.
This filing is part of 21Shares’ ongoing expansion into DeFi-focused ETFs. It comes after recent filings for Injective (INJ) and leveraged exposure to HYPE.
Details of the 21Shares Hyperliquid ETF
The 21Shares Hyperliquid ETF is structured as a Delaware statutory trust. It aims to provide institutional investors with exposure to HYPE’s market performance and staking rewards, minus management fees and liabilities.
Coinbase Custody and BitGo Trust have been selected as custodians. They will ensure the secure cold storage of the fund’s HYPE holdings.
According to the filing, the ETF will not use leverage or derivatives. Instead, it will passively track HYPE’s price through a benchmark that collects data from major exchanges. 21Shares may also stake a portion of the fund’s HYPE through approved staking providers or via liquid staking tokens, if regulatory clarity permits.
The filing also states that the ETF’s shares will be created and redeemed through authorized participants in exchange for HYPE or equivalent cash value. The inclusion of a “HYPE Counterparty” to facilitate these transactions suggests a design similar to existing Bitcoin and Ethereum ETFs.
This HYPE ETF filing follows 21Shares’ earlier October submission for a 2x Long HYPE ETF, a leveraged product aiming to deliver double the daily returns of HYPE. If approved, it would become the first US-listed leveraged ETF tracking a live DeFi protocol, using derivatives instead of direct token holdings. Additionally, earlier this month, 21Shares also filed for a spot Injective (INJ) ETF.
HYPE Price Analysis: Breakout or Pause Ahead?
At present, HYPE is trading at around $49.38, an increase of 3.5% on the day, with the Bollinger Bands widening. The RSI at 62.5 suggests moderate bullish momentum, while the MACD histogram continues to print higher bars.
The token has reclaimed the mid-Bollinger band and is now testing resistance near $49–$50. A daily close above this range could pave the way toward the upper band at $55, followed by $61 if momentum is sustained.
On the contrary, immediate support lies at $44, with stronger demand expected around $40, the mid-October accumulation zone. With the ETF filing, HYPE could very well be a strong investment option in 2025.
