21Shares Files for 2x Leveraged Hyperliquid ETF Amid Institutional Rush
21Shares has submitted a bold filing with the SEC for a 200% leveraged ETF tracking the Hyperliquid Index, marking the third major institutional product targeting HYPE this quarter. The move follows Bitwise's spot ETF application and VanEck's staking-focused offering, signaling Wall Street's accelerating embrace of decentralized derivatives platforms.
Hyperliquid's resilience during recent market turmoil—posting record revenues amid a $10 billion sector selloff—has drawn comparisons to Binance from Jump Trading's president. The platform's HIP-3 upgrade, enabling permissionless perpetual futures creation, appears to be catalyzing what Bloomberg's Eric Balchunas calls a 'land rush' for niche crypto exposure.