The ever-sophisticated asset manager 21Shares, in its eternal dance with destiny, has filed for a new exchange-traded fund (ETF) – the Hyperliquid ETF. This piece of financial wizardry will track a token from the perpetual futures protocol of the same name. Clearly, Wall Street’s flirtation with alternative cryptocurrencies has grown into a full-blown affair. 🤑
The Securities and Exchange Commission (SEC) was graced with 21Shares’ filing on Wednesday, though, as usual, they left us hanging with no ticker symbol or fee disclosure. Oh, the mystery! Coinbase Custody and BitGo Trust are the fortunate custodians of this digital treasure trove. What a life. 💼💰
This filing follows Bitwise’s own effort last month with their Hyperliquid (HYPE) ETF. For those of you not in the know, this token brings sweet discounts to Hyperliquid’s decentralized exchange and serves as the handy little fellow to pay fees on its blockchain. Oh, and it has risen in value alongside the exchange’s growing popularity. Apparently, all those fees aren’t just for the tech nerds after all. 📈
US investors, it seems, have developed quite an appetite for ETFs tracking the most volatile altcoins out there – and some of them even include staking. In fact, Bitwise’s latest creation, the Solana (SOL) ETF, made quite a splash on its second day. So much splash that one Bloomberg analyst practically tripped over himself with excitement. 🏄♂️
Bitwise Solana Staking ETF Volume Sees “Huge Number”
And then, there’s Bitwise’s Solana Staking ETF (BSOL), which finished its second day of trading on Wednesday with a staggering $72 million in trading volume. Eric Balchunas, the ETF analyst for Bloomberg, was quick to shower it with praise, calling this “a huge number” and a “good sign” for things to come. It seems the day one hype didn’t manage to scare investors away after all. Perhaps Wall Street has finally learned how to let go of its “oh-so-brief infatuation” phase. 😏
Meanwhile, the debut of Bitwise’s ETF occurred on the same day as the Canary Capital’s Litecoin (LTC) and Hedera (HBAR) ETFs. Despite these contenders, Bitwise’s ETF led the pack with a robust $55.4 million in trading volume – the largest of any crypto ETF launched in 2025. It seems size does matter in this game. 💪
Grayscale Investments, not one to shy away from a challenge, also launched its own staking-enabled Grayscale Solana Trust ETF (GSOL) on Wednesday. Oh, competition – the sweet, sweet spice of life! But alas, the GSOL managed a mere $4 million in trading volume, which, while not terrible, clearly didn’t stir the financial masses in quite the same way. As Balchunas dryly noted, “healthy, but obviously short of BSOL.” Ouch. 💔
Still, Balchunas found a silver lining: “Being just one day behind is actually really huge,” he quipped. “Makes it so much harder.” If only the crypto world could just calm down long enough to not make things so dramatic. 🙄
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2025-10-30 04:39