21Shares Launches First U.S. Hyperliquid ETFs with Staking Rewards

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21Shares Brings <a href="https://minority-mindset.com/hype-usd/">HYPE</a> to Nasdaq With First U.S. Hyperliquid ETF

Key Highlights

  • 21Shares launched THYP, the first U.S. ETF giving direct exposure to Hyperliquid and its token, HYPE, plus staking rewards.
  • A second ETF called TXXH was also launched, offering 2x leveraged exposure to HYPE, making both products the first U.S.-listed Hyperliquid ETFs.
  • HYPE’s price remained largely unchanged following the announcement.

I’m excited to see 21Shares launch a new ETF called THYP. It’s a simple way for me to get exposure to Hyperliquid and their token, HYPE, without actually having to buy and hold the token myself. It’s a convenient option for adding to my crypto portfolio.

The company announced that its product will begin trading on the Nasdaq exchange this month, reflecting growing interest in cryptocurrencies beyond just Bitcoin and Ethereum.

Hyperliquid is a company with 11 employees, over $900 million in profit, and a $35 billion valuation. Now, for the first time, you can invest in Hyperliquid through an ETF listed on the Nasdaq Exchange. This new 21shares Hyperliquid ETF is backed by actual $HYPE tokens, allows staking, has a management fee of 0.30%, and its pricing is provided by FTSE Russell.

— 21shares US (@21shares_us) May 12, 2026

THYP is built to follow the current price of HYPE and also lets investors earn rewards by staking their tokens. It launched with a management fee of 0.30%.

The company announced another new ETF called 21Shares 2x Long HYPE ETF, trading under the symbol TXXH, set to launch on April 30th. This ETF has a management fee of 1.89%. These two funds are the first U.S. exchange-traded funds connected to the Hyperliquid platform.

Hyperliquid’s rapid market growth

Hyperliquid’s launch is attracting significant interest from institutional investors in the world of decentralized finance and perpetual futures. The platform has rapidly gained prominence, now managing over half of all open interest in decentralized perpetual futures trading.

According to Andres Valencia, Head of Investment Management at 21Shares, after launching Europe’s first Hyperliquid exchange-traded product, they’ve observed the protocol become a leading source of liquidity worldwide for decentralized derivatives.

The company sees Hyperliquid as a key player in the future of decentralized finance, pointing to its high trading volumes and increasing number of users. What sets Hyperliquid apart from many other decentralized exchanges is that all its trading happens directly on the blockchain with a traditional, live order book.

This allows trades to occur directly on the blockchain, eliminating the need for external price sources. The platform has also grown to include trading in commodities, indices, and even predictions.

Fund structure and staking exposure

As a crypto investor, I’ve been looking into these new products, and here’s what I’ve found: THYP is set up as a 33-Act ETP, which means it’s different from a typical ETF. It’s *not* registered under the same rules as those traditional ETFs you might be used to, so it doesn’t have the same level of investor protection. But, TXXH *is* registered under the 1940 Act, offering those standard protections.

21Shares mentioned that THYP might stake some of its HYPE tokens using external staking services. Staking involves holding tokens to support the network and earn rewards. They anticipate these staking rewards will start being distributed in June 2026.

Even after the launch of its ETF, the price of HYPE hasn’t changed much. Currently, it’s trading at $40.31, which is a slight decrease of 1.58% from its high of $42.91 over the last 24 hours.

Trading activity has decreased by 15%, reaching around $263 million, but the overall market value remains stable at $10.3 billion, as reported by CoinMarketCap.

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2026-05-12 19:00