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 $60.3M 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.