Swiss-based asset manager 21Shares has filed for regulatory approval in the United States to launch a Hype ETF, an exchange-traded fund designed to track the performance of the Hype token, native to the Hyperliquid ecosystem. The filing names custodians such as Coinbase Custody and BitGo Trust, though the registration does not yet disclose a ticker symbol or fee structure.
Meanwhile, U.S. fund manager Bitwise saw its Solana Staking ETF (BSOL) generate over $72 million in trading volume on its second day—one of the strongest volumes posted by a newly launched crypto ETF in 2025. The debut day of BSOL drew approximately $55.4 million, making it the largest crypto-ETF launch of the year so far.
Market Gateway for Altcoins
The dual news points reflect a widening appetite among institutional and retail investors for crypto investment products that extend beyond Bitcoin and Ethereum. By targeting the Hype token and Solana’s staking mechanisms, fund managers are tapping into emerging sectors such as decentralized finance and tokenised network utility.
21Shares’ move underscores its ambition to push alt-coin ETFs into mainstream investment channels. Bitwise’s strong early volume confirms that investors are willing to commit significant capital to these vehicles at launch – setting a higher bar for crypto-asset funds going forward.
Future Prospects and Key Watchpoints
For investors and asset-managers, the developments suggest that crypto-ETFs are evolving rapidly: they are no longer limited to Bitcoin tracking but now include targeted tokens and staking features. Success will hinge on regulatory approval, token availability, liquidity and how these funds perform relative to underlying assets.
