21Shares has filed for a Hyperliquid ETF to track the native token of the Hyperliquid blockchain and perpetual futures protocol, marking increased interest in altcoin investment products. This follows Bitwise’s similar filing and comes amid strong trading for Bitwise’s Solana staking ETF, which saw over $72 million in volume on its second day.
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21Shares Hyperliquid ETF filing highlights Wall Street’s shift toward altcoin ETFs.
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Bitwise’s Solana Staking ETF achieves record volume, signaling investor demand for staking-enabled products.
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Hyperliquid token value has risen significantly, with a 150% increase over the past year according to market data.
Discover the latest on 21Shares Hyperliquid ETF filing and Bitwise Solana staking ETF’s trading surge. Explore altcoin ETF trends and investment opportunities in the evolving crypto market today.
What is the 21Shares Hyperliquid ETF and Why Does It Matter?
The 21Shares Hyperliquid ETF is an exchange-traded fund proposed by asset manager 21Shares to track the performance of the Hyperliquid token, the native asset of the Hyperliquid blockchain and its decentralized perpetual futures protocol. Filed with the U.S. Securities and Exchange Commission on Wednesday, the ETF would provide investors with exposure to this emerging altcoin without direct ownership. This filing underscores growing institutional interest in alternative cryptocurrencies beyond Bitcoin and Ethereum, potentially broadening access to high-growth DeFi platforms.
How Does Bitwise’s Solana Staking ETF Compare in Trading Performance?
The Bitwise Solana Staking ETF (BSOL) has shown remarkable early success, recording over $72 million in trading volume by the end of its second trading day on Wednesday. Bloomberg ETF analyst Eric Balchunas described this as a “huge number,” noting that it surpasses typical post-launch declines seen in most ETFs. On its debut Tuesday, BSOL captured $55.4 million in volume, the highest among crypto ETFs launched in 2025 so far. This performance reflects strong investor appetite for staking features, which allow holders to earn rewards on Solana (SOL) tokens.
Balchunas highlighted the ETF’s resilience, stating, “This is a good sign as the trading volume on most ETFs drops after the day one hype is over.” In comparison, rival Grayscale Solana Trust ETF (GSOL), which also debuted staking capabilities on Wednesday, achieved $4 million in initial volume—healthy but notably lower than BSOL. Balchunas added, “Being just one day behind is actually really huge. Makes it so much harder.”
Source: Eric Balchunas
Bitwise’s chief investment officer, Matt Hougan, previously emphasized the importance of staking in Solana products, calling Solana staking ETFs the “missing part of the puzzle” for comprehensive crypto exposure. The Hyperliquid filing by 21Shares similarly taps into this trend, naming Coinbase Custody and BitGo Trust as custodians, though no ticker symbol or fee details were disclosed. Hyperliquid’s token, used for fee payments and discounts on its decentralized exchange, has gained traction as the platform’s popularity surges. Market data from CoinMarketCap indicates the token’s value has appreciated by approximately 150% over the past year, aligning with increased on-chain activity.
This wave of altcoin ETF launches, including Canary Capital’s Litecoin (LTC) and Hedera (HBAR) ETFs that debuted alongside BSOL, signals a maturing crypto investment landscape. U.S. investors are increasingly seeking diversified options, with staking adding yield potential to volatile assets. According to filings with the SEC, these products aim to democratize access to blockchain innovations, reducing barriers like wallet management and security concerns.
Expert analysis from financial publications like Bloomberg supports this momentum. Balchunas noted that while day-one volumes can be inflated by novelty, sustained interest in BSOL demonstrates genuine demand. For Hyperliquid, the protocol’s focus on efficient perpetual futures trading positions it as a leader in DeFi, potentially attracting similar enthusiasm if approved.
Grayscale’s entry into the Solana staking space further intensifies competition, but BSOL’s lead suggests first-mover advantages in product design and marketing. Overall, these developments highlight a pivotal moment for altcoins, where ETFs could drive mainstream adoption by integrating traditional finance tools with blockchain rewards.
Frequently Asked Questions
What does the 21Shares Hyperliquid ETF filing mean for altcoin investors?
The filing represents a step toward regulated exposure to Hyperliquid’s token, enabling U.S. investors to gain indirect access to the platform’s growth without managing crypto directly. It follows Bitwise’s prior application and could pave the way for more DeFi-focused ETFs if approved by the SEC, potentially boosting liquidity and investor confidence in altcoins.
Why is Bitwise Solana Staking ETF seeing high trading volume?
Bitwise’s Solana Staking ETF is attracting volume due to its innovative staking feature, which lets investors earn rewards on SOL holdings through a familiar ETF structure. With over $72 million traded in two days, it outperforms peers, as noted by analysts, reflecting strong demand for yield-generating crypto products amid Solana’s ecosystem expansion.
Key Takeaways
- Altcoin ETF Surge: 21Shares’ Hyperliquid ETF filing signals Wall Street’s deepening interest in DeFi tokens, building on successful Bitcoin and Ethereum precedents.
- Staking Innovation: Bitwise’s Solana ETF’s $72 million volume underscores the appeal of staking yields, with experts like Eric Balchunas calling it a benchmark for new launches.
- Competitive Landscape: Rivals like Grayscale face challenges catching up, advising investors to monitor SEC approvals for diversified crypto portfolio opportunities.
Conclusion
The 21Shares Hyperliquid ETF filing, alongside the robust performance of Bitwise’s Solana Staking ETF, illustrates the accelerating convergence of traditional finance and altcoin ecosystems. As custodians like Coinbase and BitGo support these initiatives, institutional adoption appears poised for further growth. Investors should stay informed on regulatory updates, positioning themselves to capitalize on emerging opportunities in the dynamic crypto market.
