21Shares Hyperliquid ETF
$47.04−1.21 (−2.51%)
- 0.30%
- $74M
- 0.2M sh
- $48.52
- low $22.54high $56.28
The ETF.net THYP Grade
A
Score 74 out of 100
- 4 of 26
Score 74 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A86 out of 100Rank 3 of 26Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A72 out of 100Rank 5 of 26Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B66 out of 100Rank 7 of 26Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C43 out of 100Rank 3 of 6Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C41 out of 100Rank 20 of 26
Our read on THYP
AThe first US spot ETF for HYPE, the token behind the Hyperliquid perpetuals exchange. It holds the coin directly, stakes a slice of it, and charges less than the typical spot-crypto fund.
The Trust seeks to track HYPE's performance through the FTSE Hyperliquid Index, net of expenses and liabilities, and may reflect staking rewards at the Sponsor's discretion.
Why people hold it
- First US-listed spot Hyperliquid ETF: HYPE exposure inside an ordinary brokerage account, with no wallet, no private keys and no crypto exchange login.21shares.com
- Staking is built into the wrapper. A portion of the trust's HYPE is staked on the network, and rewards are passed to shareholders in cash rather than kept inside the token.21shares.com
- The 0.30% sponsor fee sits below the 0.35% median for spot-crypto ETFs and under BHYP, which tracks the same FTSE Hyperliquid Index.
- Coins are held by Anchorage Digital Bank and BitGo Bank & Trust, federally chartered trust banks built for digital assets.21shares.com
Worth knowing
- One token, one protocol. Value moves with the price of HYPE, the native asset of a young derivatives exchange, so drawdowns can be deep and fast.decrypt.co
- Launched in 2026, so there is little history to judge it by, and how much of the HYPE gets staked is set at the sponsor's discretion.
- It is a grantor trust, not a registered investment company, so the shareholder protections that come with 1940 Act funds do not apply here.
THYP Holdings
- Other
- 1
- 100%
- Hyperliquid
THYP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
THYP$12,433
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | THYP |
|---|---|
| Year to date | — |
| 1 month | +3.5% |
| 3 months | +24.3% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | THYP |
|---|---|---|
| 2026 YTD | +106.4% |
THYP in the news
THYP Dividends
- $0.19 per share
- Quarterly
Distribution data unavailable.
Distribution history
THYP Risk
- —
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- —
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- —
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.29
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
THYP Cost
0.30%
THYP0.30%
- The middle half of Crypto Spot funds
- Median 0.35%
2 of the 26 Crypto Spot funds charge less.
Other funds in Crypto Spot
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- AXRPBitwise XRP ETFExpense ratio 0.34%1 year return —
- ATOXR21shares XRP ETFExpense ratio 0.30%1 year return —
- BCLNKBitwise Chainlink ETF Beneficial InterestExpense ratio 0.34%1 year return —
- BTSUI21Shares Sui ETFExpense ratio 0.30%1 year return —