21Shares has announced that it will launch 21Shares Hyperliquid ETPs on the SIX Swiss exchange under the ticker name HYPE.
According to Globe News Wire, the new development gives investors institutional-grade access to Hyperliquid, a next-generation decentralized exchange that is changing the way crypto derivatives and blockchain-based trading infrastructure work. Launched under the ticker HYPE, the ETP will charge a flat fee of 2.50% for traders.
Mandy Chiu, Head of Financial Product Development at 21Shares, said, “Hyperliquid is doing for decentralized derivatives what the best ETF issuers did for traditional markets, building at the infrastructure level with a long-term vision. Its growth has been nothing short of extraordinary, and the underlying economics are among the most compelling we’ve seen in the space.”
Since its launch in 2023, Hyperliquid has amassed more than $2.07 trillion in total trading volume and presently processes more than $8 billion every day, which is 80% of all decentralized perpetuals. By vertically integrating trading, blockchain, and development layers, Hyperliquid is setting the stage for long-term disruption. This is similar to how top asset managers changed ETFs by owning more infrastructure, building trust, and increasing scale.
“With HYPE, we’re giving investors an institutional-grade way to access one of the fastest-growing corners of crypto, all through the familiar ETP structure they trust,” Chiu added.
ETF Space Experiencing Rush
Earlier this week, 21Shares submitted a registration filing to the US Securities and Exchange Commission (SEC) to start an ETF tracking SEI, the native token of the Sei blockchain. According to the S-1 filing submitted on Thursday, 21Shares plans to track SEI’s price using CF Benchmarks, which aggregates data from multiple crypto exchanges. Coinbase Custody Trust Company has been appointed as the custodian. The firm had also indicated that it may stake SEI to earn more returns, but it continues to consider the legal and tax risks.
The ETF space is getting more intense, with various issuers filing for multiple altcoin ETFs in the past few months. Besides 21Shares, VanEck, Bitwise, and Grayscale are other leading companies that have filed for ETFs that are linked to Solana, XRP, Cardano, and even Dogecoin. The SEC is said to be looking into a new fast-track approval procedure that might make it easier and faster to launch ETFs.
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