21Shares Submits HYPE ETF Application to SEC as DeFi Assets Gain Mainstream Traction

21Shares, a major Exchange Traded Product (ETP) management firm, filed a registration statement (Form S-1) with the U.S. Securities and Exchange Commission (SEC) on October 29 for an Exchange Traded Fund (ETF) that tracks the base token 'HYPE' (HYPE) of Hyperliquid.

The ETF applied for aims to track the USD price performance and staking yields of the HYPE token. The fund will operate passively without using leverage or derivatives, aggregating price data from major exchanges through a benchmark to track the market price of HYPE.

On October 16, 21Shares launched a double leverage...