21Shares Bids for HYPE ETF as Bitwise Solana ETF Has Big Day

Asset supervisor 21Shares is searching for to launch an exchange-traded fund (ETF) monitoring the token behind the perpetual futures protocol and blockchain, Hyperliquid, amid rising Wall Road curiosity in different cryptocurrencies.

The corporate filed for the 21Shares Hyperliquid ETF with the Securities and Trade Fee on Wednesday, which didn’t disclose a ticker image or charge. Coinbase Custody and BitGo Belief had been named as custodians.

It follows the same submitting for a Hyperliquid (HYPE) ETF from Bitwise last month. The token offers reductions on the Hyperliquid decentralized exchange and is used to pay charges on its blockchain. It has elevated in worth over the previous yr, in step with the service’s rising reputation.

US traders have demonstrated their urge for food for ETFs monitoring extra unstable altcoins, a few of which embrace novel devices corresponding to staking. Bitwise’s new Solana (SOL) ETF recorded important buying and selling quantity on its second day in the marketplace.

Bitwise Solana staking ETF quantity sees “big quantity”

In the meantime, the Bitwise Solana Staking ETF (BSOL) ended its second day of buying and selling on Wednesday with over $72 million in buying and selling quantity.

Bloomberg ETF analyst Eric Balchunas said the determine “is a big quantity” and a “good signal” because the buying and selling quantity on most ETFs drops “after [the] day one hype is over.”

BSOL debuted for trading on Tuesday alongside Canary Capital’s Litecoin (LTC) and Hedera (HBAR) ETFs. Bitwise’s ETF pulled in $55.4 million in buying and selling quantity in what Balchunas stated was the biggest of all crypto ETFs launched in 2025.