TXXH
21shares 2x Long HYPE ETF (ticker TXXH) provides simple, regulated access to leveraged exposure to HYPE, the native coin of Hyperliquid, through a familiar, exchange-traded structure.
Investment objective
The 21shares 2x Long HYPE ETF (the “Fund”) seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily price performance of HYPE. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day. An investment in TXXH is not a direct investment in HYPE.
Fund strategy
The 21shares 2x Long HYPE ETF provides 2x daily leveraged exposure to the price performance of Hyperliquid (HYPE) through a combination of derivative instruments—primarily swap agreements, futures, and options—rather than by holding HYPE directly. Under normal circumstances, the Fund will invest at least 80% of its net assets in financial instruments that provide exposure consistent with its daily leveraged investment objective.
TXXH gives you 2x exposure to a decentralized perpetual trading platform
Hyperliquid was established to revolutionize 24/7 derivatives trading by offering futures that never expire. With a custom blockchain designed to streamline trading execution, Hyperliquid was created for a seamless user experience that matches the speed of a centralized exchange.
At the core of the ecosystem is a robust, transparent revenue model: Unlike traditional platforms, 95% of Hyperliquid’s trading fees are used for daily HYPE token buybacks on the open market – which have averaged over $1 million per day1. Hyperliquid is a full-stack financial operating system, backed by nearly $1 billion in total repurchases and over $30 million in monthly revenue2, though future revenue levels will depend on trading volumes and market conditions and are not guaranteed.
Amplify exposure
Hyperliquid develops blockchain-based infrastructure intended to support decentralized derivatives markets. The platform is designed to facilitate on-chain trading activity and may be affected by broader trends in the adoption and use of decentralized financial technologies. A 2x ETF is designed to deliver twice the daily performance of its underlying asset, which can significantly enhance gains during market upswings. Because the same leverage can also increase losses during downturns, these products are generally intended for short-term use and active monitoring.
Gain leveraged exposure with total transparency
Financial leverage can be costly, limiting, and time-consuming. Barriers to short-term trades include margin calls and account minimums. A 2x ETF increases the ease with which investors can enter and exit leveraged positions, eliminating many of the leverage hurdles seen in traditional finance. However, losses can also be amplified, making the ETF best for active, short-term strategies with close monitoring.
Performance
The performance data quoted represents past performance. Past performance is not a guarantee of future results. Investment return and value of the Fund shares will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns (Net Asset Value) are calculated using the daily 4:00pm net asset value (NAV). Returns over one year are annualized. To obtain performance as current as of the most recent month-end, please visit 21shares.com/en-us/products-us/txxh. Performance is inclusive of dividends.
Premium/Discount
The amount that the Fund’s market price is about 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.
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