21Shares Launches First U.S. ETFs Tracking Hyperliquid's HYPE Token

S. -listed ETFs designed to track the rapidly growing decentralized trading ecosystem. The 21Shares Hyperliquid ETF trades under the ticker THYP on NASDAQ and offers spot exposure to the HYPE token along with staking rewards.

30 percent and launched on May 4, 2026. The companion fund, the 21Shares 2x Long HYPE ETF, trades under the ticker TXXH on NASDAQ. 89 percent and began trading on April 30, 2026.

Benzinga reported that both products give investors direct access to the Hyperliquid decentralized trading ecosystem through regulated exchange-traded vehicles for the first time. The launches come as the DeFi sector continues to expand, with Hyperliquid's HYPE token at the center of derivatives activity on its proprietary blockchain.

The THYP fund integrates staking rewards, allowing holders to earn yields generated by the underlying protocol while maintaining spot exposure.

In contrast, the TXXH fund amplifies daily price movements by a factor of two, a structure that increases both potential returns and volatility. 21Shares has positioned the pair as complementary offerings for different risk tolerances within the same ecosystem.

The lower-cost THYP targets investors seeking long-term participation with staking income, while the higher-fee TXXH appeals to those pursuing short-term tactical exposure to HYPE price swings.

The inception dates place the leveraged fund slightly ahead of its unleveraged counterpart. TXXH opened for trading on April 30, 2026, followed by THYP on May 4, 2026, completing 21Shares' initial push into Hyperliquid-linked products within the first week of May. Benzinga reported the expense ratios reflect the differing complexity of the two strategies.

89 percent on TXXH accounts for the operational demands of maintaining daily 2x leverage in a volatile token. The products represent the latest step by 21Shares, a crypto ETF issuer, to broaden the menu of regulated digital-asset vehicles available to American investors.

Both ETFs now trade on NASDAQ under their respective tickers, giving retail and institutional accounts alike a new on-ramp to the Hyperliquid ecosystem.