🚨 21Shares’ HYPE ETF Filing: A New Dawn or a Gilded Cage? 🤑

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In the shadowed corridors of Wall Street’s digital frontier, 21Shares-self-proclaimed monarch of crypto ETPs-has flung open the gates of the SEC’s Kafkaesque labyrinth, submitting a filing for a Hyperliquid ETF that would track the HYPE token. A passive beast, it claims, to mimic the market’s whims, yet one wonders: is this a savior or a sly fox in ETF garb? 🦊

21Shares’ Passive Hyperliquid ETF

This “passive” creation, they assure us, will mirror the HYPE token’s performance with the precision of a Soviet-era typewriter. No active managers to bloat fees, no frenetic trading to tax our souls-just a daily ledger of holdings, as if transparency could absolve the sin of speculative madness. Tax efficiency, they whisper, as if the state would ever let you keep your gains. 😂

And lo, Coinbase and BitGo, the modern-day custodians of digital gold, have been anointed to guard the HYPE hoard. The Trust, they declare, will assess its value daily via a “Pricing Benchmark”-a phrase that sounds like a bureaucratic incantation. Meanwhile, 21Shares hints at staking through “Liquid Staking Tokens,” a term that makes one yearn for the simplicity of barter. 🪙

The Youngest Crypto Asset To Seek ETF Approval

HYPE, the prodigy of the crypto realm, now seeks the SEC’s benediction. A mere infant since November 2024, it has soared 1,140%, a meteoric rise that makes one question whether the market is a rocket or a fireworks display. With a $13B market cap, it dances on the edge of legitimacy, yet the SEC, shrunken by a government shutdown, dithers like a bureaucrat in a snowstorm. ❄️

The agency, once a fortress of regulation, now operates with the efficiency of a rusted cog. September’s removal of a “significant barrier” feels less like progress and more like a bureaucratic nod to inevitability. Yet, as the world holds its breath, HYPE has slumped 2% to $46-a 20% fall from its $59 peak, as if the market itself yawned at the spectacle. 😬

And so, the Hyperliquid ETF dream waltzes into the void, a gilded cage for investors who might one day ask: Was this ever about the HYPE, or merely the HYPE of the HYPE? 🤷‍♂️

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2025-10-30 10:14