21Shares, a Swiss crypto asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) for approval of a spot ETF tracking the HYPE token. Submitted on October 29, 2025, this marks 21Shares' first profitable entry into the altcoin market. The ETF will utilize institutional-grade custodians Coinbase Custody and BitGo Trust to ensure compliance and security. The HYPE token has experienced a 26% increase over the past week, indicating strong speculative interest and investor confidence. This move by 21Shares highlights the growing demand for diversified crypto investment products.