21shares bid for hype etf as bitwise solana etf has big day

Asset Manager 21shares is seeking to launch an exchange traded fund (ETF) that tracks the token behind the perpetual futures protocol and blockchain, hyperliquid, amid growing interest on Wall Street in alternative cryptocurrencies.

The company filed For 21shares hyperliquid ETF with the Securities and Exchange Commission on Wednesday, which did not disclose a symbol or fee. Coinbase Custody and Bitgo Trust have been named as custodians.

This follows a similar filing for a hyperliquid (hype) ETF from bitwise last month. The token provides hyperliquid discounts decentralized exchange and used to pay fees on its blockchain. It has increased in value over the past year, in line with the growing popularity of the service.

US investors have shown their appetite for tracking more volatile ETFs of altcoins, some of which include novel instruments such as staking. Bitwise’s new Solana (Sol) ETF recorded significant trading volume on its second day on the market.

Bitwise Solana Staking ETF Volume Sees “huge numbers”

Meanwhile, the bitwise Solana Staking ETF (BSOL) ended its second day of trading on Wednesday with more than $72 million in trading volume.

Bloomberg ETF analyst Eric Balchunas said The figure “is a big number” and a “good sign” as trading volume in most ETFs drops “after (the) day of a hype is over.

BSOL It debuted for trading on Tuesday alongside Canary Capital’s Litecoin (LTC) and Hedera (Hbar) ETFS. Bitwise’s ETF pulled in $55.4 million in trading volume in what Balchunas said was the largest of all crypto ETFs launched in 2025.