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- 21Shares has issued a second amendment to its Hyperliquid ETF and plans to list trading on the Nasdaq under the ticker THYP.
- The write-up also shows plant performance and an initial production basket of 20,000 units to get the HYPE before it starts.
21 Divisions have played a role in introducing a Hyperliquid ETFadding details to its placement as the competition around HYPE-related products begins to intensify.
The property manager sent a second update reservation Tuesday, indicating that the fund intends to trade on the Nasdaq under the ticker THYP. In ETF terms, this type of change is important. It doesn’t confirm the start date, but it usually indicates that the process is getting more and more, not less.
Nasdaq plans and seed services sharpen the picture
The change also revealed the methods of seed production, which made the reservation much clearer than the registration document. According to the filing, 21Shares US LLC, the sponsor of the fund, bought two shares of the seed for $50 each on March 18 and redeemed the following week.
This may sound like a small thing, and in a sense it is. But a seed job like this usually shows that the donor is actively working to establish the fund rather than just saving space in the queue.
The reservation continues. 21Shares said it plans to buy 20,000 shares from the trust at $25 per share as an initial seed basket, with the proceeds expected to be raised before the HYPE ETF goes on sale.
The competition for the Hyperliquid fund is starting to look real
What makes booking so popular is its timing. Several providers are now trying to sell products built with Hyperliquid, the protocol and blockchain which has become one of the most watched names in crypto in the last year.
For 21Shares, the second update shows that the SEC negotiations are active and ongoing, which the market generally reads as progress, even if the final path is not smooth.
The broad point is simple enough. Hyperliquid is no longer considered a niche issue. When investors start mentioning tickers, seed baskets and index positions, the market starts to treat ETFs as a possibility in mind, but as something that may be approaching the shelf.
