21Shares Hyperliquid Staking ETF
21Shares Hyperliquid Staking ETF is a U.S.-organized exchange-traded trust designed to provide exposure to HYPE, the native digital asset associated with the Hyperliquid protocol, together with staking-related participation. The Trust issues and redeems Shares through Creation Baskets and holds HYPE through designated custodians, with Shares listed on an exchange under the symbol THYP.
Tilikausi 2026 · muutos edellisvuodesta
Kehitys 2026–2026
Liiketoiminta
Osuus liikevaihdostaShares provide investment exposure to HYPE, the digital asset associated with Hyperliquid.
The product incorporates staking-related activity intended to generate returns from eligible HYPE holdings.
The Trust packages digital-asset exposure into exchange-traded Shares with basket-based issuance and redemption.
Asiakkaat
The primary buyers are investors seeking exchange-traded exposure to HYPE and the Hyperliquid ecosystem without directly managing wallets, validators, or digital-asset custody. Authorized Participants create and redeem Shares in Creation Baskets, while exchange investors trade Shares through the secondary market. Custodians and service providers support the product’s operational delivery rather than serving as end-market customers.
Buy and sell THYP Shares to obtain market exposure to HYPE through a listed security.
Use the ETF structure to access HYPE without directly operating digital-asset custody infrastructure.
Exchange HYPE for Creation Baskets and support primary-market liquidity and arbitrage.
Seek exposure to Hyperliquid and potential staking-related returns through an exchange-traded product.
Strategia
The product’s strategy is to combine listed-market access to HYPE with a trust structure that handles custody, basket creation and redemption, and staking-related activity. This structure is intended to reduce the operational burden of direct digital-asset ownership while preserving exposure to the Hyperliquid ecosystem. The Sponsor also uses HYPE held by custodians to meet fees and Trust expenses not otherwise assumed by the Sponsor.
Reliable basket creation, redemption, and trading are central to ETF investor access.
The ETF value proposition depends on simplifying direct digital-asset ownership and participation.
A listed wrapper can broaden access beyond investors able or willing to manage direct HYPE holdings.
Maantiede
The Trust is organized and listed in the United States, and its Shares trade on a U.S. exchange under the symbol THYP. Its underlying exposure is tied to the globally accessible Hyperliquid digital-asset ecosystem rather than to a conventional country-specific operating market. The available filings do not disclose country-level revenue or geographic revenue percentages.
Riskit
The Trust is exposed to the price, liquidity, operational, regulatory, and custody risks of HYPE and the broader digital-asset market. Its staking and custody model adds dependence on protocol functionality, custodians, and the ability to transfer or liquidate HYPE to pay expenses. The Prospectus is the principal source for detailed risks, and the available filing states that no material changes had occurred from those disclosures.
Digital-asset prices can move sharply, directly affecting the Trust's asset value and Share price.
Kohdistuu: HYPE holdings and staking-related assets
Changes in securities, commodities, custody, or staking regulation could restrict operations or investor access.
Kohdistuu: U.S. regulatory and compliance framework
The Trust depends on HYPE Custodians to safeguard and transfer assets used for redemptions and expenses.
Kohdistuu: Custodied HYPE
Technical failures, governance events, slashing, or reduced staking functionality could impair the strategy.
Kohdistuu: Hyperliquid ecosystem and staking process
Limited Authorized Participant activity or HYPE liquidity can widen Share spreads and cause deviations from underlying value.
Kohdistuu: Primary and secondary markets
Kirjanpito
Harkinnanvaraiset erätReported assets and net asset value depend on market prices, pricing sources, and liquidity assessments.
Vaikutus: Can materially affect assets, net assets, and investor returns.
The Trust receives HYPE for Share issuance and may deliver HYPE for redemptions rather than using cash.
Vaikutus: Changes asset composition and may affect realized gain or loss presentation.
Recognition depends on when rewards become claimable, the applicable valuation, and any protocol restrictions.
Vaikutus: Affects investment income, assets, and net asset value.
Loss of access, security incidents, or changes in recoverability may require valuation adjustments or disclosure.
Vaikutus: Could reduce reported assets and increase expenses or losses.
HYPE may be transferred or sold to pay expenses not assumed by the Sponsor.
Vaikutus: Reduces net assets and can create taxable or realized transaction effects.
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
Hyperliquid Strategies Inc
PURR · Finance Services
Hyperliquid Strategies Inc is a U.S.-listed digital asset treasury company built around accumulating and staking HYPE, the native token of the Hyperliquid Layer-1 blockchain ecosystem.
21Shares XRP ETF
TOXR · Commodity Contracts Brokers & Dealers
21Shares XRP ETF is a U.S.-listed commodity-based exchange-traded product structured as a trust that provides investors exposure to XRP through shares that are…
Hyperion DeFi, Inc
HYPD · Finance Services
Grayscale Ethereum Staking ETF
ETHE · Commodity Contracts Brokers & Dealers
Grayscale Ethereum Staking ETF is a Delaware statutory trust that holds Ether and gives investors exchange-traded exposure to the Ethereum network.
Grayscale XRP Trust ETF
GXRP · Commodity Contracts Brokers & Dealers
Grayscale XRP Trust ETF is a Delaware statutory trust that holds XRP, the digital asset used on the decentralized XRP Network, and issues exchange-traded…
21Shares Dogecoin ETF
TDOG · Commodity Contracts Brokers & Dealers
21Shares Dogecoin ETF is a U.S.-listed, passive exchange-traded product structured as a trust that seeks to track the price performance of Dogecoin.
Päivitetty: 24.9.2026