Rebeca Moen
Oct 30, 2025 14:52
Hyperliquid (HYPE) eyes a $50 price target as 21Shares files for a spot ETF, potentially boosting the token’s value amid a positive crypto market sentiment.
Hyperliquid (HYPE), a notable cryptocurrency, is gaining attention as it trades around $47, with potential to surge past the $50 mark. This interest is spurred by 21Shares, a prominent asset manager, filing for a spot exchange-traded fund (ETF) to track the HYPE token, according to CoinMarketCap.
Market Reaction to ETF Filing
Despite the news of the ETF filing, Hyperliquid’s price has remained relatively stable, reflecting a broader trend of muted gains across most altcoins. The current price around $47 points to a cautious optimism among traders, with bulls eyeing a breakthrough past the $50 psychological barrier.
Broader Crypto Market Sentiment
The filing by 21Shares comes at a time when the cryptocurrency market is witnessing a positive sentiment, driven by the increasing acceptance and launch of various spot crypto ETFs in the United States. These developments are fueling hopes that HYPE could benefit from broader market dynamics as investors look for new opportunities.
Potential Impact of Spot ETFs
Spot ETFs are seen as a significant evolution in the crypto investment landscape, providing a more accessible avenue for mainstream investors to gain exposure to digital assets. The 21Shares filing is expected to further enhance the allure of cryptocurrencies like Hyperliquid, potentially driving up demand and price.
As Hyperliquid continues to hover near its current price point, market watchers are keenly observing the impact of the 21Shares ETF filing on its future trajectory. The outcome could signal broader implications for altcoins and their acceptance in mainstream financial markets.
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