HYPE ETF: A Leveraged Leap into DeFi Madness! 🚀💸

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In a world teetering on the brink of financial farce, the intrepid asset manager 21Shares has decided to throw caution to the wind with its latest HYPE ETF filing. While the DeFi space quivers with anticipation, the HYPE token itself is precariously testing the limits of gravity, clinging to support levels like a socialite to a cocktail at a dull party. 🍸💎

  • 21Shares, in a fit of audacity, files for the 2x leveraged HYPE ETF, promising double the daily returns-or double the despair. 🎢
  • Leverage, that siren of the markets, will be achieved through swaps, sparing investors the bother of token custody. How thoughtful! 🧙♂️
  • The HYPE token, currently at $34-$35, is flirting with disaster after a 7% tumble. Bearish indicators like a MACD crossover and RSI whisper of further doom. 📉😱
  • Should HYPE falter, $30 awaits like a grim reaper. Yet, a break above $37.50 might signal a reversal-though one suspects it’s as likely as a Waugh novel ending in joy. 🌪️

With a flourish of bureaucratic bravado, 21Shares has petitioned the U.S. Securities and Exchange Commission (SEC) for its 21Shares 2x Long HYPE ETF. This audacious fund aspires to deliver twice the daily returns of Hyperliquid, offering a gilded gateway to the DeFi token. Should it receive approval, it would be the first U.S.-listed leveraged ETF to track the fees and perpetual market performance of a live DeFi protocol-a feat as remarkable as it is dubious. 🏛️✨

The filing, submitted on October 16, reveals that this ETF seeks to replicate twice the daily performance of HYPE, before fees and expenses. The fund will dabble in swap agreements, options, and perhaps Spot HYPE Exchange-Traded Products (ETPs), though the latter remain as elusive as a Waugh protagonist’s happiness. 🕵️♂️

21Shares’ proposal, with its daily reset structure, is as unconventional as a martini at breakfast. Instead of holding tokens directly, the ETF will employ swap derivatives to achieve leveraged exposure to HYPE. This ingenious arrangement allows investors to bask in the DeFi ecosystem’s glow without the tedious responsibility of token custody. How marvelously modern! 🍸🔗

Meanwhile, other asset managers, such as Bitwise, have joined the fray with similar proposals for spot HYPE ETFs, underscoring the institutional world’s growing fascination with DeFi assets-or perhaps its collective midlife crisis. 🧐💼

HYPE ETF Buzz: All Fizz, No Lift 🥂✈️

Despite these grand machinations, the HYPE token remains under duress, trading around $34-a 10% plunge in the last 24 hours, according to crypto.news. The DeFi darling is testing support at $34-$35, its price action as dreary as a Waugh dinner party. This slump follows a sharp correction from recent highs, echoing the broader market’s slide after last week’s $19.3 billion liquidation. 🌊💔

HYPE Token Price Chart

Though HYPE briefly rebounded to $43.24, buoyed by the HIP-3 upgrade, the bulls proved as reliable as a Waugh character’s morals. The 30-day simple moving average (SMA) hovers at $45.27, a stark reminder of the token’s bearish plight. 🐂👎

The Moving Average Convergence Divergence (MACD) has performed a bearish crossover, with the MACD line at -3.19, well below the signal line at -2.27. Sellers reign supreme, and the negative histogram bars suggest their momentum is only gathering steam. If HYPE fails to hold its support, $30 looms like a bad review. On the brighter side, a recovery above $37.50 might signal a reversal-though one wouldn’t bet the family silver on it. 📉🤞

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2025-10-17 13:15