21Shares Wants In On The Hype Token Craze With New ETF
What’s going on here?
Crypto ETF heavyweight 21Shares is looking to launch a passive ETF tracking hype token, just as institutional interest in digital assets picks up—and as US regulators hit pause during the government shutdown.
What does this mean?
21Shares, which is set to be acquired by FalconX, has filed to launch an ETF that will track hype token — now one of the top eleven cryptocurrencies by market value, buoyed by a huge 1,400% rally over the past year, according to CoinMarketCap. The goal is to give institutional investors easier access to the high-flying crypto world without the headaches of direct on-chain trading. But while the SEC has already given the nod to spot ETFs for coins like solana and dogecoin, further approvals have slowed to a crawl as government shutdowns cut the agency’s staffing. This new ETF would be passively managed and hold underlying assets securely with Coinbase and BitGo custodians. With more than $11 billion already under management, 21Shares—and FalconX behind it—are racing to stay ahead in a sharply competitive digital asset market.
Why should I care?
For markets: Crypto ETFs turn up the heat.
ETF providers are in a race to capture the exploding institutional demand for crypto, even as regulatory snags slow things down. With spot ETF filings piling up and new offerings like hype token potentially opening the door to more alternative coins, competition among asset managers is growing—and innovation in how these products work is picking up speed.
The bigger picture: Crypto breaks into everyday investing.
Seeing big players like FalconX move deeper into crypto signals the line between digital assets and traditional investing is blurring fast. Even if regulators lag behind, investor demand keeps pushing the sector forward. If this pace holds, digital assets could move from niche to normal in financial markets—changing how everyone invests in the next wave of technology.
