21Shares, a provider of crypto investment products, has filed an S-1 registration form with the SEC for a Hyperliquid $HYPE ETF. The filing seeks to register securities for public sale, marking another expansion into crypto-focused exchange-traded funds.

Hyperliquid operates a platform for on-chain crypto derivatives trading, with HYPE serving as its native token for the decentralized exchange focused on perpetual futures and derivatives.

The filing represents part of a broader industry interest in HYPE-based investment products. Multiple asset managers, like VanEck and Bitwise, are pursuing HYPE-related ETFs, as they seek to integrate the token into traditional investment vehicles.

21Shares has recently expanded into leveraged crypto ETFs, building on similar proposals from other asset managers to offer amplified exposure to emerging blockchain assets.