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Crypto firm 21Shares files for ‘HYPE’ token ETF amid breakout demand
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21Shares files for a HYPE-token ETF, reflecting rising institutional interest in crypto and regulatory momentum for digital-asset products.
Digital-asset manager 21Shares filed for regulatory approval to launch a passive exchange-traded fund that will track the price of the “HYPE” token, signalling increased institutional demand for crypto-asset exposure. The application comes just days after 21Shares announced its acquisition by FalconX, a crypto-trading firm, and ahead of broader approvals for spot crypto ETFs under review by the U.S. Securities and Exchange Commission (SEC) amidst the U.S. government shutdown and thinning staff. The move underscores how mainstream financial vehicles are converging with digital-asset markets and highlights regulatory gaps still in play.