Asset manager 21Shares has filed with the U.S. SEC for a 2x Long HYPE ETF. This fund aims to offer double the daily returns of Hyperliquid, a DeFi token. If approved, it would be the first U.S.-listed leveraged ETF tracking a live DeFi protocol’s performance.
The ETF will use swaps and options to replicate twice the daily performance of HYPE, without needing to hold the support around $34-35, a further drop toward $30 may be in the cards. On the flipside, a recovery above $37.50 would signal a potential reversal, but such a move would require important buying interest to break above the current resistance.
