21Shares Brings DeFi to Wall Street with Hyperliquid ETF Filing
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21Shares is looking to bring a core piece of decentralized finance (DeFi) infrastructure to the mainstream market.
The asset manager filed Wednesday for an ETF tracking the HYPE token, the native asset of the Hyperliquid blockchain—a network specifically built for DeFi applications.
As the 16th largest cryptocurrency by market cap, HYPE represents a bet that investor appetite is expanding beyond foundational assets like Bitcoin and into the specialized protocols that power the modern crypto economy, following a similar filing from Bitwise in September.
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