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Launched

21Shares 2x Long HYPE ETF

TXXHNasdaqCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$58.03−3.32 (−5.41%)

At close: Oct 13, 2026, 4:00 PM

C45/ 100

Rank 7 of 15 in 2x Long Crypto

C45/100Rank 7 of 15in2x Long Crypto
Intraday session: down, 53 prints from 61.35 to 58.03. Range 56.81 to 59.07. Use the arrow keys to read each point.57.0059.0060.0010 AM12 PM2 PM4 PM
Expense ratio
1.89%
Fund size
$7M
1Y total return
—
Yield · Last 12 months
—
Holdings
2
Avg volume · 30D
0M sh
NAV per share
$61.96
52W range
low $23.05high $86.40
Launched

The ETF.net TXXH Grade

Based on 4 of 6 pillars

C

Score 45 out of 100

Category
2x Long Crypto⁠
Rank
7 of 15
Six-pillar profile for TXXH. Scores out of 100: Cost 46, Risk 75, Mission not scored, Tradability 23, Holdings not scored, Durability 23. Strongest: Risk (75). Weakest: Durability (23). Based on 4 of 6 pillars.

Score 45 of 100 falls in the C 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.
    C46 out of 100
    Rank 7 of 15

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A75 out of 100
    Rank 3 of 15

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F23 out of 100
    Rank 12 of 15

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F23 out of 100
    Rank 13 of 15

Our read on TXXH

ETF.net Research

CThe first US-listed leveraged bet on Hyperliquid's HYPE token. TXXH is a 1940-Act fund that uses swaps and futures to chase twice HYPE's daily move: a trading tool in a brokerage-friendly wrapper.

Stated mandate

The Fund seeks twice the daily price performance of HYPE before fees and expenses. It is designed for daily, short-term leveraged exposure rather than results over periods longer than one day.

Why people hold it

  1. 0121Shares got there first: TXXH and its spot sibling were the first US-listed ETFs tracking Hyperliquid, reachable from an ordinary brokerage account, no wallet required.manilatimes.net21shares.com
  2. 02Registered under the Investment Company Act of 1940, the same rulebook as a conventional ETF, rather than the commodity-trust structure used by spot crypto products.manilatimes.net
  3. 03At 1.89%, it sits mid-pack among 2x crypto funds, undercutting BITX (2.75%) and ETHU (2.97%).

Worth knowing

  1. 01The 2x objective is a one-day target that resets daily. Over longer holds, compounding through choppy markets can leave results well away from twice HYPE's move.cdn.21shares.com
  2. 02Exposure is synthetic: swaps, futures and options rather than HYPE itself, which brings counterparty and collateral risk into the picture.21shares.comcdn.21shares.com
  3. 03ProShares' 2x bitcoin and ether funds (BITU, ETHT) charge roughly half of 1.89%. The premium here buys a much younger, thinner underlying market.

TXXH Holdings

As of Oct 13, 2026
Asset class
Other
Holdings
2
Top-10 weight
210%
Largest holding
FHYPE1H4 Index-Swap-Ripl-L199.3%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—FHYPE1H4 Index-Swap-Ripl-L199.30%161,666$14M1
002—Us Bank Mmda - Usbgfs 9 09/01/203710.28%699,819$700K163

Showing 1–2 of 2 holdings

TXXH Performance

Launched Apr 30, 2026

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.
TXXH$11,887
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. TXXH $11,887. SPY $10,332. Use the arrow keys to read each point.$4,898$11,151$17,404Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

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.

Trailing total return for TXXH. Periods over one year show the average yearly return.
PeriodTXXH
Year to dateFund launched this year—
1 month−1.1%
3 months+18.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TXXH
YearReturn barTXXH
2026 YTD+153.1%

Since listing, Apr 30, 2026

TXXH in the news

Filtered to TXXH · 2x Long Crypto

TXXH Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

TXXH Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
6.89
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TXXH Cost

Expense ratio1.89%
  • The middle half of 2x Long Crypto funds
  • Median 1.89%

6 of the 14 2x Long Crypto funds charge less.

TXXH costs $189.00 a year on $10,000. The median 2x Long Crypto fund costs $189.00.

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