Crypto ETF issuer 21Shares has rolled out two new ETFs tied to Hyperliquid's HYPE token, marking the first U.S.-listed ETFs designed to track the rapidly growing decentralized trading ecosystem.
The new funds include the 21Shares Hyperliquid ETF (NASDAQ:THYP), which offers spot exposure alongside staking rewards, and the 21Shares 2x Long HYPE ETF (NASDAQ:TXXH), which provides leveraged exposure to the token's price movements.
Key Features Of The New Hyperliquid ETFs
- THYP ETF
- Spot exposure to HYPE token
- Integrates staking rewards
- Expense ratio: 0.30%
- Inception date: May 4, 2026
- TXXH ETF
- Provides 2x leveraged exposure to HYPE
- Expense ratio: 1.89%
- Inception date: April 30, 2026
- Hyperliquid Metrics
- Processes about $8 billion in daily volume
- Generates over $56 million monthly in trading fees
- More than 95% of fee revenue directed toward HYPE buybacks
- Over 76% of token supply allocated to the community
The launch comes as Hyperliquid gains traction in decentralized finance, with the platform now accounting for more than 50% of decentralized perpetual futures open interest and roughly $8 billion in daily trading volume, according to the company.
21Shares said the move reflects rising investor demand for regulated products tied to on-chain trading infrastructure as crypto markets continue expanding beyond Bitcoin and Ethereum-focused strategies.
Andres Valencia, EVP of Investment Management at 21Shares, said Hyperliquid has evolved into a "global liquidity hub for decentralized derivatives," citing more than $4 trillion in cumulative trading volume since inception.
The firm added that the protocol's architecture operates fully on-chain using a real-time order book system without relying on external oracles — a structure that has increasingly attracted institutional and retail attention in the DeFi space.
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