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THYP vs TSUI

21Shares Hyperliquid ETF

THYPANasdaq

21Shares Sui ETF

TSUIBNasdaq

Overlap

0.0%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

THYP0.30%TSUI0.30%

Avg volume · 30D

THYP 3.9×the volume

THYP80.9KTSUI21K

THYP vs TSUI Performance

Jul 31, 2026 – Nov 2, 2026

+59.2%THYP+28.6%TSUI

Jul 31, 2026 to Nov 2, 2026. THYP +59.2%. TSUI +28.6%. Use the arrow keys to read each point.0%40%80%Jul 2026Sep 2026Nov 2026
Expense ratio
THYP 0.30%
TSUI 0.30%
Fund size
THYP $60M
TSUI $25M
Holdings
THYP 1
TSUI 1
Avg volume (30D)
THYP 80.9K sh, better
TSUI 21K sh
NAV per share
THYP $48.34
TSUI $17.44
52W range

ETF.net Grade

THYP: Cost 86, Risk 77, Mission not scored, Tradability 74, Holdings 45, Durability 41. TSUI: Cost 86, Risk 66, Mission not scored, Tradability 42, Holdings 45, Durability 38.
Pillar letters and Scores for THYP, TSUI, with each pillar’s weight
PillarTHYPTSUI
Cost30% weightA86A86
Mission25% weightNot scoredNot scored
Risk15% weightA77HigherB66
Tradability15% weightA74HigherC42
Holdings10% weightC45C45
Durability5% weightC41HigherD38

Rank among Crypto Spot funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. THYP and TSUI are both graded against the same 25 Crypto Spot funds, so their Grades compare head to head.

Crypto Spot⁠

Category · 25 funds
See all 25 ›

THYP ranks 3rd and TSUI 8th of 25 funds in the Crypto Spot Category.

  1. Rank 1AXRPZFranklin XRP ETFScore 86
  2. Rank 2AHYPGGrayscale Hyperliquid Staking ETFScore 81
  3. Rank 3ATHYP21Shares Hyperliquid ETFScore 77
  4. Rank 4AXRPBitwise XRP ETFScore 75
  5. Rank 8BBHYPBitwise Hyperliquid ETFScore 67
  6. Rank 8BTSUI21Shares Sui ETFScore 67
  7. Rank 10BBAVABitwise Avalanche ETFScore 62

Our read on each fund

ETF.net Research

THYPA21Shares Hyperliquid ETF

TSUIB21Shares Sui ETF

In short

THYP The 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.

TSUI Spot Sui in a normal brokerage account, priced at the low end of single-token crypto trusts. The wrinkle: staking rewards can be switched on and passed through, once the Sponsor judges the legal path is clear.

Stated mandate

THYP 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.

TSUI The Trust seeks to track SUI's benchmark-measured performance after expenses and liabilities, while reflecting staking rewards when the Sponsor determines staking can be undertaken without undue legal or regulatory risk.

Why people hold it

  • THYP 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
  • TSUI At 0.30%, it prices below the typical spot-crypto trust (0.35% median) and well under the priciest Sui rival, SUIS at 0.75%.
  • Staking is written into the mandate, not bolted on: rewards are reflected when the Sponsor determines staking can be done without undue legal or regulatory risk.21shares.com
  • Plain passive plumbing: hold SUI, track its benchmark-measured performance after expenses and liabilities. Nobody is picking tokens on your behalf.
  • On cost and structure it stands among the stronger builds in its spot-crypto peer group.

Worth knowing

  • THYP 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.
  • TSUI One token, one driver. SUI's price sets the whole ride, with no other holdings to cushion it.
  • A 2026 launch with a small asset base and light trading, which can show up as wider bid-ask spreads.
  • Staking hinges on the Sponsor's legal read, so reward pass-through is conditional rather than a standing feature.21shares.com

Full THYP profile⁠

Full TSUI profile⁠

THYP vs TSUI Holdings

How THYP and TSUI differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of THYP and 0.0% of TSUI.

Level by level

  • Holdings0 in both0.0%
  • Asset classAlternatives100%

Sector

No Sector split for THYP and TSUI.

Country, concentration and asset class

Country by domicile

No country split for THYP and TSUI.

Concentration

Weight in the 10 largest Holdings

  • THYP100.0%
  • TSUI100.0%

Securities held

  • THYP1
  • TSUI1

Asset class

THYP
Alternatives
TSUI
Alternatives

Holdings

  • Only in THYP1
  • In both0
  • Only in TSUI1

Only in THYP

1 security, 100% of THYP by weight

  • Hyperliquid100.00%

Only in TSUI

1 security, 100% of TSUI by weight

  • Sui100.00%

Weight gaps

THYP and TSUI share no securities.

All THYP holdings⁠All TSUI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

THYP vs TSUI Cost

Same expense ratio

$6,149

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • THYP 0.30%

    $6,149

  • TSUI 0.30%

    $6,149

$10,000
30 years

Cost over time

  • THYP 0.30%
  • TSUI 0.30%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530THYP $6,149TSUI $6,149

Year by year

YearTHYPTSUI
10$545$545
20$2,113$2,113
30$6,149$6,149

Expense ratio

  • 0.30%THYP
  • 0.30%TSUI
  • Middle half of Crypto Spot funds
  • Median 0.35%

THYP 3rd cheapest of 25 funds

TSUI 3rd cheapest of 25 funds

THYP vs TSUI Dividends

Last 12 months to Nov 2, 2026
Last payment
THYP $0.19
TSUI $0.05
Ex-dividend
THYP Sep 29, 2026
TSUI Sep 29, 2026
Paid on
THYP Sep 30, 2026
TSUI Sep 30, 2026
Frequency
THYP Quarterly
TSUI Quarterly

Distribution history

Per share, 2026, same scale for both

THYPQuarterly · 2 paymentsAll THYP payments⁠
One bar per payment. 2 payments in 2026 YTD. Jun 29, 2026 $0.04; Sep 29, 2026 $0.19. Use the arrow keys to read each point.$0$0.202026YTD
TSUIQuarterly · 3 paymentsAll TSUI payments⁠
One bar per payment. 3 payments in 2026 YTD. May 14, 2026 $0.05; Jun 29, 2026 $0.02; Sep 29, 2026 $0.05. Use the arrow keys to read each point.$0$0.202026YTD

THYP vs TSUI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years
THYP −0.29TSUI 0.83

THYP and TSUI in the news

All news⁠

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