21Shares has formally filed with the US SEC for a 2x HYPE ETF. This can be a leveraged fund that goals to ship double the day by day returns of the Hyperliquid Index. It builds on earlier filings from asset managers for the product.
21Shares Expands its DeFi Product Line with HYPE ETF Submitting
In a brand new improvement, 21Shares has submitted a submitting with the usSEC for a 2x leveraged HYPE ETF, in a bid to spice up the token’s publicity. The proposed product will amplify traders’ publicity by 200%. It will supply a high-beta play for merchants in search of to capitalize on the platform’s surging on-chain exercise.
Bloomberg ETF analyst Eric Balchunas described the 21Shares submitting as “so area of interest it would simply win.” He in contrast immediately’s surge in thematic ETFs to the early booms in sensible beta and currency-hedged merchandise. If authorized, it could change into the primary U.S.-listed leveraged ETF to trace a dwell DeFi protocol’s payment and perpetual market efficiency.
21Shares submitting for a 2x HYPE ETF. That is the sort of submitting the place you are like man, that’s SO area of interest, idk.. however then you may search for in 3-4yrs it is obtained a couple of billion. Only a complete land rush proper now, identical to with themes, curr hedging and sensible beta in eras previous. pic.twitter.com/7UiLP5AlnK
— Eric Balchunas (@EricBalchunas) October 17, 2025
The transfer follows a string of product launches by the agency, together with the 21Shares DOGE ETF, which lately went dwell on the DTCC platform.
In Europe, the asset supervisor additionally listed the HYPE ETP on the SIX Swiss Alternate. This gave institutional traders entry to the protocol’s token with out requiring wallets or on-chain custody. That itemizing arrived simply as Hyperliquid posted its strongest income month up to now.
Analysts observe that the 2x HYPE ETF is the primary to combine Hyperliquid’s perpetual futures system into a conventional 40-Act, daily-reset wrapper. Through the use of swaps as a substitute of custody, the construction introduces new layers of funding and counterparty publicity.
It was estimated that the preliminary capability could possibly be round $500 million to $1.5 billion, relying on liquidity situations within the HYPE markets.
Asset Managers Intensify Push for Hyperliquid ETF Listings
The 21Shares transfer follows earlier strikes by different asset managers. Final month, Bitwise filed for an HYPE ETF. The product is designed to carry the native token instantly, with in-kind creation and redemption options permitting shares to be swapped for HYPE tokens as a substitute of money.
In the meantime, VanEck additionally utilized for a spot staking Hyperliquid ETF within the U.S., alongside a parallel European ETP. The agency has hinted at integrating staking yields and potential HYPE buybacks tied to fund efficiency.
Including to the momentum, Hyperliquid‘s HIP-3 improve went dwell on the platform. Perpetual market creation with out permission was launched within the replace. Consequently, certified builders gained’t want centralized approval to introduce derivatives straight onto the chain.
Specialists say this improve might dramatically broaden HYPE’s utility and liquidity, making it an much more enticing base asset for ETF issuers.
