THYP
21shares Hyperliquid ETF (THYP), an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (“40 Act”), and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. THYP is subject to significant risk and heightened volatility. THYP assets are not suitable for an investor who cannot afford to the loss of the entire investment. An investment in THYP is not a direct investment in Hyperliquid.
THYP is the first US spot Hyperliquid ETF, offering investors exposure to HYPE along with quarterly distributions of staking rewards, all without needing a crypto wallet or exchange account.
Built around a high-performance, fully on-chain derivatives exchange, Hyperliquid combines the speed of centralized trading with the security and transparency of decentralized infrastructure.
Investment objective
21Shares Hyperliquid Staking ETF (the “Trust”) seeks to track the performance of HYPE, as measured by the performance of the FTSE Hyperliquid Index (the “Pricing Benchmark”), adjusted for the Trust’s expenses and other liabilities, and to reflect rewards from staking a portion of the Trust’s HYPE, to the extent the Sponsor in its sole discretion determines that the Trust may do so without undue legal or regulatory risk. The Trust maintains exposure to “spot” HYPE.
Gain exposure to Hyperliquid through your existing brokerage account
For investors asking how to invest in Hyperliquid through an exchange-traded structure, THYP offers a straightforward answer. Buy and sell THYP the same way you would any stock or ETF. No wallet, no private keys, no protocol complexity.
Staking rewards
A portion of the ETF's HYPE is staked on the Hyperliquid network. Rewards earned are distributed to shareholders in cash at least quarterly, giving shareholders potential return enhancement beyond spot price exposure.
Staking rewards vary with network conditions, are not guaranteed, and may not be paid every quarter. They do not protect against falls in the asset's price.
Qualified custody, built for digital assets
The ETF’s assets are held by Anchorage Digital Bank N.A. and BitGo Bank & Trust, N.A., regulated custodians purpose-built for the safekeeping of digital assets.
Commitment to the network
Earn protocol rewards
Distributed to shareholders
Staking rewards
Performance
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Returns greater than 1 year are annualized.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the ETF and may only be acquired or redeemed from the ETF in creation units. Brokerage commissions will reduce returns.
Premium/Discount
The amount that the Fund’s market price is above the reported NAV is called the premium. The amount that the Fund’s market price is below the NAV is called the discount. The Premium/Discount chart shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). The daily market price is calculated using the mid-point between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund’s NAV is calculated (usually 4:00 pm Eastern time). The vertical axis of the chart shows the premium or discount of the Mid-Point price as a percentage of the NAV. The horizontal axis shows the number of trading days covered by the chart, and each bar in the chart demonstrates how many days the Fund traded within the given premium/discount range. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
Holdings
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Key information
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Ticker information
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Frequently asked questions
THYP is the first US spot Hyperliquid ETF, listed on Nasdaq. It gives investors exposure to HYPE through a registered exchange-traded structure; no wallet, no private keys, and no crypto exchange account required. What sets THYP apart from a standard spot ETF is its staking component: a portion of the ETF’s HYPE is staked on the Hyperliquid network, with rewards distributed to shareholders in cash at least quarterly.
Yes, THYP holds spot HYPE directly, with fund assets held by Anchorage Digital Bank N.A. and BitGo Bank & Trust N.A., qualified custodians purpose-built for digital assets. The ETF seeks to track the performance of the FTSE Hyperliquid Index, adjusted for expenses and staking rewards. It is not a futures-based or synthetic product.
21shares Hyperliquid Staking ETF is listed on Nasdaq under the ticker THYP. It can be bought and sold through any brokerage account that provides access to Nasdaq-listed securities — the same way you would buy any stock or ETF. No crypto exchange account or digital wallet is required.
THYP carries significant risks, including the potential for total loss of principal. Hyperliquid is highly volatile. Staking introduces additional risks: delegations have a 1-day lockup, after which they may be undelegated. However, transfers from the staking account to the spot account are subject to a 7-day unstaking queue, during which assets cannot be sold or transferred. Hyperliquid does not currently implement automatic slashing, though large-scale consensus attacks may be penalized through social layer mechanisms.
THYP charges a management fee of 0.30% per year. Holding HYPE directly incurs no management fee, but requires a crypto exchange account, a self-custody wallet, and active management of private keys. In return for the fee, THYP gives you registered access, secure storage, and staking rewards without the hassle of holding crypto directly.
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