21Shares Hyperliquid ETF to be listed on Nasdaq, annual fee 0.30%

According to an official announcement published on X by 21Shares US on May 12, 21Shares Hyperliquid ETF (ticker: THYP) was officially listed and began trading on the Nasdaq on that day. It holds spot HYPE tokens through a grantor trust structure, with an annual sponsor fee of 0.30%, and HYPE staking is available via Figment Inc. to generate yield.

THYP ETF Key Terms

(Source: 21Shares)

Based on 21Shares’ official announcement and prospectus, the main product terms for THYP are as follows:

Annual sponsor fee: 0.30% (paid in HYPE tokens)

Custody service providers: Anchorage Digital Bank and BitGo Bank & Trust (both use cold storage). The joint theft and fraud insurance coverage amounts to $350 million

Staking arrangement: Through Figment Inc., the trust can stake and hold 30% to 70% of HYPE; the sponsor has the right to increase the allocation to 100%

Staking yield allocation: 70% to the trust; 30% to the Figment service provider

Creation/redemption units: in units of 10,000 shares, available only to authorized participants

Pricing benchmark: FTSE Hyperliquid Index (high-liquidity index)

As of May 12, 2026, the HYPE trading price is reported at $42.071.

Main Risk Disclosures and Legal Structure

According to THYP’s prospectus, the main risks disclosed by 21Shares include: HYPE’s annualized volatility exceeds 126%; validators may face punitive “slashing”; the staking lock-up period is 1 to 7 days; and redemptions may be delayed.

THYP uses a grantor trust structure and is not registered under the 1940 Investment Company Act, making its legal structure different from most ETFs or mutual funds.

Competitive Landscape

According to publicly available information, 21Shares has simultaneously launched a 2x leveraged HYPE product, TXXH (trading on Nasdaq since April 30, 2026). Competitor Bitwise has filed an application for a spot HYPE ETF under the ticker BHYP, and Grayscale has also filed an application for a spot HYPE ETF under the ticker GHYP; both are currently under review.

FAQ

What are the listing date, trading ticker, and exchange venue for the 21Shares THYP ETF?

According to an official announcement published on X by 21Shares US on May 12, 2026, THYP (21Shares Hyperliquid ETF) was officially listed for trading on Nasdaq on May 12, 2026, and the annual sponsor fee is 0.30%.

What are THYP’s staking mechanism and fee structure?

According to THYP’s prospectus, THYP stakes and holds 30% to 70% of HYPE through Figment Inc. (the sponsor can increase to 100%). For staking yield, 70% goes to the trust and 30% to Figment; the annual sponsor fee is 0.30%, paid in HYPE tokens.

What are the main risk disclosures and legal structure described in THYP’s prospectus?

According to THYP’s prospectus, the main risks include HYPE’s annualized volatility exceeding 126%, validator slashing risk, staking lock-up of 1 to 7 days, and potential redemption delays; THYP uses a grantor trust structure and is not registered under the 1940 Investment Company Act, so its legal structure differs from that of a typical ETF.