Crypto ETF Shenanigans: Hyperliquid Gets the Larry Treatment? 🤷‍♂️😒

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Alright, so 21Shares, this big-shot crypto outfit, files an S-1 with the SEC to launch an ETF for Hyperliquid’s HYPE token. Fantastic, now you can bet on it without actually owning the damn thing, like it’s some fancy stock but with all the crypto drama. Who needs direct ownership when you can have exposure to the price and staking yields? It’s like tasting the soup without burning your mouth – genius, or is it? 🤔😂

The SEC accepted it on October 29, 2025, which apparently is a big deal for shoving Hyperliquid’s DeFi nonsense into “regulated” markets. Hyperliquid’s booming as a perpetual DEX, and 21Shares jumping in is just pumping up the hype like it’s nobody’s business. I mean, who cares about regulated? We’re talking billions in inflows for Bitcoin and Ethereum ETFs – $4.57 billion this month. Unbelievable, or should I say, predictably outrageous? 💸🤯

Fuelling Hyperliquid’s Growth? More Like Fueling My Sarcasm Levels

According to the filing, 21Shares is gonna use swaps, options, and maybe some spot ETPs to mimic Hyperliquid’s on-chain craziness – perpetual futures and fees and all that jazz. It’s stuck to SEC rules, which is surprising considering crypto’s usual wild west vibe. Oh, and they already filed a 2X leveraged ETF for HYPE earlier. Bullish? More like bullish on headaches for the little guy. 🚀😩

Hyperliquid’s killing it in DeFi this year, with over $3 trillion in trading volume. Built on their own Layer 1, zero gas fees, superspeed – way better than Aster or Lighter, they say. Optimized for speed, cost, and transparency? Yeah, right, because that always works out perfectly in crypto. 😆 This ETF might bring in the big money, institutional types flooding in like it’s a fancy party… or a total disaster in the making.

Hyperliquid’s success is thanks to its architecture fixing all DeFi’s flaws – speed, cost, transparency. Flaws? Sounds like wishful thinking to me. This ETF could catalyze adoption, or it could just catalyze more complaints from people like me asking, “Why bother?” 💡🤨

SEC’s Upturn Stance: Finally Catching Up to the Circus?

The SEC’s new rules for spot crypto ETFs sped things up – from 240 days to 75 max. Great, because waiting forever to approve crypto stuff was just irritating everyone. Trump’s administration pushing to mainstream it, leading to ETFs for Solana and XRP, and now Hyperliquid. Progress? Or just more chaos inviting the masses? 🤦‍♂️🍿

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2025-10-29 15:36