Sounds like the zoomies or Frenetic Random Activity Period, which is when young animals blow out the jams and get rid of tension/stress etc from the day.
Ignore the shredding for the minute - get some Vet Bed (the original is the best but the knock off stuff is also fine) as its unrippable, and use that in his crate once that arrives and again ignore whatever he wants to do with it.
Provide toys that meet that need to rip/pull/tug - Tearribles are good, K9 Connectables are good, theres loads though. Amazon have a good range of 'things you pull out of other things' toys, carrots from a garden patch, bees from the hive, eggs out of the turtle (that one sa bit grim i think).
For tuggy games with a person (and i think he may benefit from this but carefully and probably in a week or two from now) the Collar brand 'Puller Rings' are fantastic, they're sold in pairs, so you have two identical rings.
Then you can teach him to tug and to 'out' when asked, by using the other ring and more play as the reward.
So if you're tugging away, and he grabs your flesh/clothing, stop responding, go quiet and pause for a sec, if he pauses, lets go etc, great, reward that with more play.
If he doesn't let go, drop the ring and walk away (with him I would back up not turn and walk away) and then pick up the other ring and make that one fun and let him play when he drops what he has and comes to you. If walking away is too much for him, just have the other ring where you can get it and he can't and do the drop what he has, pick up the other one and make that more interesting.
Let him win often. Stop playing often and lob some treats down for snifferoos, get him used to playing and stopping and playing and stopping without triggering frustration.
He sounds like he needs an outlet for that behaviour that is appropriate, with rules he can understand.