21Shares files second amendment to Hyperliquid ETF filing, seeks Nasdaq listing under THYP
The issuer plans to buy 20,000 shares from the trust at $25 per share as an initial seed creation basket to buy HYPE prior to the listing.
21Shares has submitted a second amendment to its Hyperliquid ETF filing, requesting a Nasdaq listing under the ticker symbol THYP. According to the filing, the issuer plans to purchase 20,000 shares from the trust at $25 per share as an initial seed creation basket to acquire HYPE tokens prior to the listing.
The amendment represents the latest development in 21Shares' efforts to launch an exchange-traded fund tracking Hyperliquid's native token. Hyperliquid operates as a decentralized perpetual exchange built on its own layer-1 blockchain, offering trading services for cryptocurrency derivatives. The platform has gained attention in the DeFi space for its high-performance trading infrastructure and native HYPE token.
The proposed ETF would provide traditional investors with regulated exposure to Hyperliquid's ecosystem without requiring direct cryptocurrency custody. This filing continues the trend of asset managers seeking to offer ETF products beyond Bitcoin and Ethereum, expanding into alternative cryptocurrency investments. The $500,000 initial investment demonstrates 21Shares' commitment to establishing adequate liquidity for the fund upon launch.
Market participants will be monitoring the SEC's response to this amended filing and whether it receives approval alongside other pending cryptocurrency ETF applications. The Nasdaq listing request suggests 21Shares expects regulatory approval, though the timeline for potential launch remains uncertain pending regulatory review.
Source: The Block
