HYPE Price Rises As 21Shares Unveils Groundbreaking Hyperliquid ETF
21Shares mentioned it’ll listing its spot Hyperliquid ETF, THYP, on Nasdaq on May 12. The product offers brokerage purchasers regulated publicity to the native token of the Hyperliquid perpetuals buying and selling community.
The fund is structured as a grantor belief, not a 1940 Act fund. That setup lets the sponsor stake held HYPE for yield whereas preserving passive worth publicity.
21Shares To Launch Spot Hyperliquid ETF on Nasdaq With Built-In Staking
21Shares fees a 0.30% annual sponsor charge, paid in HYPE. Custody sits with Anchorage Digital Bank and BitGo Bank & Trust. Both suppliers use cold storage backed by as much as $350 million in joint theft and fraud insurance coverage.
The belief might stake between 30% and 70% of its HYPE holdings via Figment Inc. The sponsor has discretion to push that share as high as 100%.
Staking rewards are break up roughly 70% to the belief and 30% to the supplier.
In-kind creation and redemption baskets run in numerous 10,000 shares and are restricted to licensed contributors. The fund tracks the FTSE Hyperliquid Index as its pricing benchmark.
Hyperliquid’s HYPE token surged on the information, and was buying and selling for $42.071 as of this writing.
Risks and the Spot HYPE ETF Race
The prospectus carries robust danger language. It warns that THYP is unsuitable for traders who can not afford a complete loss, citing HYPE’s annualized volatility above 126%.
Validator jailing penalties, staking lockups of 1 to seven days, and redemption delays are additionally flagged within the submitting.
21Shares already runs a 2x leveraged HYPE product, TXXH, which started buying and selling on April 30. Rivals Bitwise and Grayscale have filed competing spot HYPE ETFs below the tickers BHYP and GHYP.
The launch follows months of development in Hyperliquid’s perpetuals quantity. Early flows into THYP will sign how conventional traders worth the venue.
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