21Shares Files New Hyperliquid ETF

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Bolstered by its impending acquisition by prime broker FalconX, 21Shares made its next strategic move Wednesday by filing for a Hyperliquid ETF.

The filing, which follows Bitwise’s similar September proposal, aims to track the HYPE token of the Layer 1 DeFi-focused blockchain.

The timing highlights 21Shares’ enhanced ambitions; as reported by The Wall Street Journal, the FalconX deal is designed to merge 21Shares’ distribution with advanced trading infrastructure to launch sophisticated products that go beyond basic spot ETFs.