21Shares Seeks 2x Long HYPE ETF as Spot HYPE and SEI Trust Filings Advance

• 21Shares filed an S-1 with the SEC for a 2x leveraged ETF tied to Hyperliquid’s HYPE token
• The fund uses derivatives, not direct token holdings, to achieve 2x daily market exposure
• The ETF operates under the Securities Act of 1933 but outside CFTC and Investment Company Act oversight

Crypto asset manager 21Shares has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC). The filing seeks approval to launch the 21Shares 2x Long HYPE ETF. This leveraged fund is designed to deliver twice the daily returns of Hyperliquid (HYPE) before fees and expenses.

Related: 21Shares Files INJ ETF as Injective Joins Elite Group With Multiple ETF Bids

How the 2x HYPE ETF Works

According to the filing, the proposed fund will use swap agreements, options, and other derivatives to mirror HYPE’s market performance. The ETF will not hold t…

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