21Shares Hyperliquid ETF

Frequently Asked Questions About THYP

What does THYP invest in?

The 21Shares Hyperliquid ETF, trading under the symbol THYP, is a passively managed fund designed to provide investors with indirect access to the HYPE digital currency. The valuation of its holdings is pegged to the FTSE Hyperliquid Index, which serves as a daily, U.S. dollar-denominated benchmark for HYPE's price. This index's reference rate is derived from aggregating the executed trade volumes across various Constituent Exchanges (CEXs). Additionally, an estimated intra-day value per share, also tied to the FTSE Hyperliquid Index, is updated and disseminated every 15 seconds throughout standard exchange hours, specifically from 9:30 AM to 4:00 PM Eastern Time. HYPE itself is a digital currency that can be utilized for transactions involving goods and services. On the Hyperliquid Network, it powers high-performance digital asset trading by means of an on-chain central limit order book.

What is the expense ratio of THYP?

21Shares Hyperliquid ETF (THYP) charges an expense ratio of 0.30%. This is the annual fee deducted from fund assets to cover management and operations.

How big is THYP?

21Shares Hyperliquid ETF (THYP) manages $58.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is THYP actively managed or an index fund?

THYP is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (THYP's is 0.30%) because there's no security selection cost.

When was THYP launched?

21Shares Hyperliquid ETF (THYP) launched in May 2026 and is managed by 21Shares.

How has THYP performed?

THYP's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.