THYP on Nasdaq
21Shares Hyperliquid Staking ETF
In its 2026 annual report the company says: “The Trust is an exchange-traded fund that issues common shares of beneficial interest that trade on The Nasdaq Stock Market LLC under the ticker symbol “THYP”.”3 It is headquartered in New York, New York.1
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Last updated Oct 20, 2026.
Overview
- TickerTHYP on Nasdaq1
- IndustryCommodity Contracts Brokers & Dealers1
- HeadquartersNew York, New York1
- Incorporated inDE2
- Business address477 Madison Avenue, 6Th Floor, New York, Ny 100222
- Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2
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The Trust is an exchange-traded fund that issues common shares of beneficial interest (the “Shares”) that trade on The Nasdaq Stock Market LLC (the “Exchange”) under the ticker symbol “THYP”. The Trust’s investment objective is to seek to track the performance of HYPE, as measured by the performance of the FTSE Hyperliquid Index (the “Pricing Benchmark”), adjusted for the Trust’s expenses and other liabilities, and to reflect rewards from staking a portion of the Trust’s HYPE, to the extent the Sponsor in its sole discretion determines that the Trust may do so without undue legal or regulatory risk, such as, without limitation, the risk of jeopardizing the Trust’s ability to qualify as a grantor trust for tax purposes. The Pricing Benchmark is calculated by FTSE International Limited (the “Benchmark Provider”) on weekdays and Sundays. The Pricing Benchmark is designed to track the perfor…3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
No quarterly figures reported.
Every line of the balance sheet as filed: the last 2 fiscal years (annual) or 2 quarters (quarterly), latest first.4
| Period ending | 2026-06-30 | 2026-03-31 |
|---|---|---|
| Investment in HYPE, at fair value (cost $58,533,802) | $71.2M | |
| HYPE sold receivable | $3.0M | |
| Total assets | $74.2M | |
| Capital shares payable | $3.0M | |
| Sponsor Fee payable | $2.7K | |
| Total liabilities | $3.0M | |
| Net assets | $71.2M | |
| Paid-in-capital | $57.7M | |
| Accumulated earnings (loss) | $13.4M | |
| Net assets | $71.2M | |
| Shares issued and outstanding, no par value, unlimited amount authorized | 1.9M shares | |
| Net asset value per share | $37.86 | $24.40 |
| Investment in HYPE, Cost | $58.5M |
| Period ending | 2026-06-30 | 2026-03-31 |
|---|---|---|
| Investment in HYPE, at fair value (cost $58,533,802) | $71.2M | |
| HYPE sold receivable | $3.0M | |
| Total assets | $74.2M | |
| Capital shares payable | $3.0M | |
| Sponsor Fee payable | $2.7K | |
| Total liabilities | $3.0M | |
| Net assets | $71.2M | |
| Paid-in-capital | $57.7M | |
| Accumulated earnings (loss) | $13.4M | |
| Net assets | $71.2M | |
| Shares issued and outstanding, no par value, unlimited amount authorized | 1.9M shares | |
| Net asset value per share | $37.86 | $24.40 |
| Investment in HYPE, Cost | $58.5M |
Compare 21Shares Hyperliquid Staking ETF with another company
Former names
- 21Shares Hyperliquid ETFOct 29, 2025 to Jun 25, 20262
Timeline
- Aug 26, 20268-K Bylaws or fiscal year changed5
Filings
15 filings to the SEC since October 2021: 1 annual reports, 1 quarterly reports, 1 major events, 12 other. The latest 15:
- Sep 25, 2026424I EDGAR
- Sep 24, 2026424B3 EDGAR
- Sep 23, 202610-K ANNUAL REPORT EDGAR
- Aug 26, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
- Aug 26, 20268-K CURRENT REPORT EDGAR
- Jun 25, 2026424B3 PROSPECTUS SUPPLEMENT EDGAR
- Jun 24, 202610-Q QUARTERLY REPORT EDGAR
- May 11, 2026EFFECT EDGAR
- May 11, 2026CERT EDGAR
- May 11, 2026424B3 PROSPECTUS EDGAR
- May 8, 20268-A12B FOR REGISTRATION OF CERTAIN CLASSES EDGAR
- Apr 28, 2026S-1/A AMENDMENT NO. 3 TO FORM S-1 EDGAR
- Apr 14, 2026S-1/A AMENDMENT NO. 2 TO FORM S-1 EDGAR
- Feb 13, 2026S-1/A AMENDMENT NO. 1 TO FORM S-1 EDGAR
- Oct 29, 2025S-1 REGISTRATION STATEMENT EDGAR
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Wealth High Governance Asset Management Ltda. | 632,614 | $23.9M | 2.5% | New |
| UBS Group AG | 60,956 | $2.3M | 0.0% | New |
| Cresset Asset Management, LLC | 40,040 | $1.5M | 0.0% | New |
| Jane Street Group, LLC | 39,511 | $1.5M | 0.0% | New |
| Discovery Capital Management, LLC / Ct | 39,200 | $1.5M | 0.1% | New |
| Intrinsic Edge Capital Management LLC | 20,000 | $757.1K | 0.1% | New |
| Van Eck Associates Corp | 8,740 | $330.9K | 0.0% | New |
| Prelude Capital Management, LLC | 7,500 | $283.9K | 0.0% | New |
| Flow Traders U.s. LLC | 31,868 | $1.2K | 0.0% | New |
| Virtu Financial LLC | 20,528 | $777 | 0.0% | New |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How 21Shares Hyperliquid Staking ETF is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGAR21Shares Hyperliquid Staking ETF1
- CIK0002090011
- Employer ID (EIN)39-70647553
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
- Incorporated inDelaware3
- Fiscal year endsJune 301
- Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
- SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
- Business address477 Madison Avenue, 6Th Floor, New York, NY 100221
- Phone646-370-60161
- Shares outstanding1,770,000 shares as of Sep 21, 20263
- Public float$0 as of Dec 31, 20254
- AuditorCohen & Company, Ltd., Towson, Maryland PCAOB ID 925; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceOct 29, 20251
- Filings15 in all: 424B3 (4), S-1/A (3), 10-K (1), 10-Q (1), 424I (1), 8-A12B (1), 8-K (1), CERT (1)1
All 10 form types
EFFECT (1), S-1 (1)
- Latest filingsAnnual report (10-K) Sep 23, 2026
Quarterly report (10-Q) Jun 24, 2026
Latest 8-K (8-K) Aug 26, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Shares of Beneficial Interest of 21Shares Hyperliquid Staking ETF | THYP | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Sep 23, 2026 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks 21Shares Hyperliquid Staking ETF names in Item 1A of its 10-K filed Sep 23, 2026: 78 risks under these headings, as written.3
- Risks Associated with HYPE and the Hyperliquid Network
- The value of the Shares relates directly to the price of HYPE, which may be highly volatile and subject to fluctuations due to a number of factors.
- HYPE is a relatively new technological innovation with a limited operating history.
- HYPE and the Hyperliquid Network generally.
- Proof-of-Stake (PoS) Consensus Mechanisms.
- The Trust is exposed to risks associated with Hyperliquid Labs.
- The scheduled creation of newly minted HYPE and their subsequent sale may cause the price of HYPE to decline, which could negatively affect an investment in the Trust.
- The fixed supply of HYPE may negatively impact the operation of the Hyperliquid Network.
- The prevailing level of transaction fees may adversely affect the usage of the Hyperliquid Network.
- A determination that HYPE or any other digital asset is offered or sold as a “security” may adversely affect the price of HYPE and the value of the Shares, and result in potentially extraordinary, nonrecurring expenses to, or termination of, the Trust.
- Digital assets may have concentrated ownership and large sales or distributions by holders of such digital assets, or any ability to participate in or otherwise influence a digital asset’s underlying network, could have an adverse effect on the market price of such digital asset.
- The trading prices of many digital assets, including HYPE, have experienced extreme volatility in recent periods and may continue to do so. Extreme volatility in the future, including further decline in the trading prices of HYPE, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value.
The other 67 risks
- Spot markets on which HYPE trades are relatively new and largely unregulated.
- Authorized Participants may act in the same or similar capacity for other competing products.
- Spot markets may be exposed to security breaches.
- Spot markets may be exposed to fraud and market manipulation.
- Spot markets may be exposed to wash trading.
- Spot markets may be exposed to front-running.
- The Trust’s Staking Activities involve legal and regulatory risk, such as, without limitation, the risk of jeopardizing the Trust’s ability to qualify as a grantor trust for tax purposes, which could harm the value of the Shares.
- The Trust may be negatively impacted by Staking Activities.
- The Staking Services Provider may not optimally execute the Staking Activities.
- The Trust may vary the amount of HYPE to be staked and the rewards received may accordingly change from time to time.
- The market value of HYPE is subject to momentum pricing.
- A decline in the adoption of HYPE or the Hyperliquid Network could negatively impact the Trust.
- The failure of one or more of the Foundation’s strategic partnerships with one or more institutional players may adversely affect demand for HYPE, the price of HYPE, or the price of the Shares.
- Irrevocable nature of blockchain-recorded transactions.
- The loss or destruction of a private key required to access HYPE may be irreversible.
- Loss of a critical banking relationship for, or the failure of a bank used by, the Trust could adversely impact the Trust’s ability to create or redeem Baskets, or could cause losses to the Trust.
- If the Custodial Services Agreements are terminated or the HYPE Custodians fail to provide services as required, the Trustee may need to find and appoint a replacement custodian, which could pose a challenge to the safekeeping of the Trust’s HYPE, and the Trust’s ability to continue to operate may be adversely affected.
- The HYPE Custodians may act in the same or similar capacity for other competing products.
- A disruption of the Internet may affect HYPE operations of the Hyperliquid Network, which may adversely affect the HYPE industry and an investment in the Trust.
- Potential changes to the Hyperliquid Network’s protocols and software could, if accepted and authorized by the Hyperliquid Network community, adversely affect an investment in the Trust.
- The structure of the Hyperliquid Network protocol means that the core developers and other contributors are generally not directly compensated for their contributions in maintaining and developing the Hyperliquid Network protocol. A failure to properly monitor and upgrade the Hyperliquid Network protocol could damage the Hyperliquid Network and an investment in the Trust.
- The governance of the Hyperliquid Network could have a negative impact on the performance of the Trust.
- Anonymity and illicit financing risk.
- Restricted Persons may access the Hyperliquid interface in violation of the Hyperliquid interface’s terms of use.
- The Hyperliquid Network is subject to cyberattacks by state-sponsored actors.
- The actual or perceived use of HYPE and other digital assets in illicit transactions, which may adversely affect the HYPE industry and an investment in the Trust.
- The inability to recognize the economic benefit of a “fork” or an “airdrop” could adversely impact an investment in the Trust.
- Network Forks.
- Any name change and any associated rebranding initiative of HYPE may not be favorably received by the digital asset community, which could negatively impact the value of HYPE and the value of the Shares.
- HYPE is subject to cybersecurity risks, which could adversely affect an investment in the Trust or the ability of the Trust to operate.
- If validators expend less processing power on the Hyperliquid Network, it could increase the likelihood of a malicious actor obtaining control.
- Cancer nodes.
- Double-spending risks.
- Flaws in source code.
- Denial of service attacks.
- Proof-of-stake blockchains are a relatively recent innovation and have not been subject to as widespread use or adoption over as long of a period of time as traditional proof-of-work blockchains.
- Validators may suffer losses due to staking, which could make the Hyperliquid Network less attractive.
- The Hyperliquid Network faces scaling challenges and efforts to increase the volume and speed of transactions may not be successful.
- Smart contracts are new and their ongoing development and operation may result in problems or be subject to errors or hacks, which could reduce the demand for HYPE or cause a wider loss of confidence in the Hyperliquid Network, either of which could have an adverse impact on the value of HYPE.
- Risks associated with centralization and the limited validator set of the Hyperliquid Network.
- New competing digital assets may pose a challenge to HYPE’s current market position, resulting in a reduction in demand for HYPE, which could have a negative impact on the price of HYPE and may have a negative impact on the performance of the Trust.
- Competition from central bank digital currencies (“CBDCs”) could adversely affect the value of HYPE and other digital assets.
- Prices of HYPE may be affected due to stablecoins, the activities of stablecoin issuers and their regulatory treatment.
- Operational cost may exceed the award for validating transaction, and increased transaction fees may adversely affect the usage of the Hyperliquid Network.
- Electricity usage.
- If the digital asset award or transaction fees for recording transactions on the Hyperliquid Network are not sufficiently high to incentivize validators, or if certain jurisdictions continue to limit or otherwise regulate validating activities, validators may cease expanding validating power or demand high transaction fees, which could negatively impact the value of HYPE and the value of the Shares.
- Validators may cease to record transactions as a result of low transaction fees, which may adversely affect the usage of the Hyperliquid Network.
- Large-scale sales or distributions.
- Congestion or delay in the Hyperliquid Network may delay purchases or sales of HYPE by the Trust.
- Risks Associated with Investing in the Trust
- Investment related risks.
- The NAV or the Principal Market NAV may not always correspond to the market price of HYPE.
- Deviations between the Trust’s NAV and NAV per Share versus the Trust’s Principal Market NAV and Principal Market NAV per Share may occur.
- Owning Shares is different from directly owning HYPE.
- Pricing Benchmark tracking risk.
- Liquidity risk.
- Counterparty risk.
- The value of the Shares may be influenced by a variety of factors unrelated to the value of HYPE.
- The Administrator is solely responsible for determining the value of the Trust’s HYPE, the Trust’s NAV and the Trust’s Principal Market NAV. The value of the Shares may experience an adverse effect in the event of any errors, discontinuance or changes in such valuation calculations.
- HYPE Counterparties’ buying and selling activity associated with the creation and redemption of Baskets may adversely affect an investment in the Shares.
- The inability of HYPE Counterparties to hedge their HYPE exposure may adversely affect the liquidity of Shares and the value of an investment in the Shares.
- Arbitrage transactions intended to keep the price of Shares closely linked to the price of HYPE may be problematic if the process for the creation and redemption of Baskets encounters difficulties, which may adversely affect an investment in the Shares.
- The use of cash creations and redemptions, as opposed to in-kind creations and redemptions, may adversely affect the arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of HYPE and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
- If the process of creation and redemption of Baskets encounters any unanticipated difficulties, the possibility for arbitrage transactions by Authorized Participants intended to keep the price of the Shares closely linked to the price of HYPE may not exist and, as a result, the price of the Shares may fall or otherwise diverge from NAV.
- Security threats and cyber-attacks could result in the halting of Trust operations and a loss of Trust assets or damage to the reputation of the Trust, each of which could result in a reduction in the price of the Shares.
- The HYPE Custodians could become insolvent.
- The Trust is subject to risks due to its concentration of investments in a single asset.
- The lack of active trading markets for the Shares may result in losses on Shareholders’ investments at the time of disposition of Shares.
Legal proceedings
From time to time, the Trust may be a party to certain legal proceedings in the ordinary course of business. As of June 30, 2026, the Trust was not subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against the Trust.
The opening of Item 3, Legal Proceedings.3
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 5SEC EDGARBylaws or fiscal year changed