A Hyperliquid ETF is an exchange-traded investment that gives you exposure to HYPE, the native token of the Hyperliquid network, through shares held in a brokerage account. The fund or trust holds HYPE; you own its shares, not the tokens themselves or a stake in the network. Fees, tracking methods, staking policies, and legal structures vary by product.
What a Hyperliquid ETF represents
HYPE is a digital token, not stock in a company called Hyperliquid. A Hyperliquid exchange-traded product packages exposure to HYPE into listed shares. The trust holds the token, and each share represents an interest in that trust under its governing documents. You can buy and sell listed shares through a brokerage account; you do not need a crypto wallet to own them.
That is different from buying HYPE directly. Direct token ownership involves a crypto wallet and its associated custody responsibilities. An ETF shareholder generally cannot redeem an individual share with the trust for HYPE; creation and redemption are handled in large baskets by authorized participants under the product’s rules.
How the fund’s price and value work
Net asset value
A fund calculates net asset value (NAV) by valuing its holdings and subtracting expenses and other liabilities. For the 21Shares Hyperliquid ETF, the SEC-filed quarterly report says an administrator values shares daily at 4:00 p.m. Eastern Time using the FTSE Hyperliquid Index. Its stated objective is to track HYPE as measured by that index, after expenses and liabilities.
Quick wins for a faster PC:
Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →#1 Best Overall
- Read Before You Buy — No Video Output: These adapters support charging and USB 2.0 data transfer, but cannot transmit video signals. Except for standard USB webcams (which use USB data only), they are not compatible with HDMI/DisplayPort cables, video-capable USB-C hubs, or docking stations with video output.
- Convert USB-A Ports to USB-C: Designed to connect USB-C earphones, cables, flash drives, card readers, and other USB-C accessories to standard USB-A ports. Plug-and-play with no drivers or software required.
- Aluminum Alloy Housing: Built with a sturdy aluminum alloy shell that aids in heat dissipation and protects against daily wear and scratches. Designed to maintain a stable and secure connection.
- Compact & Travel-Friendly: The ultra-compact design allows the adapter to stay plugged into your device without blocking adjacent ports or adding bulk, reducing wear and tear on your original USB ports.
- 12-Month Warranty: Backed by a 12-month manufacturer warranty for peace of mind. Designed to meet strict quality control standards for reliable everyday performance.
Trading price, creations, and redemptions
Investors trade ETF shares on an exchange, while HYPE trades in digital-asset markets around the clock. The share price can therefore differ from NAV, including when the markets are open at different times or when buying and selling pressure in the ETF is uneven. Grayscale’s SEC-filed prospectus specifically warns that its shares may trade at, above, or below NAV because Nasdaq and digital-asset trading platforms have non-concurrent trading hours.
Authorized participants can create or redeem large baskets of shares, in cash or HYPE under the product’s disclosed process. Those transactions and related arbitrage are intended to help keep the market price near NAV, but they do not guarantee that shares will always trade at NAV. Fund expenses and liabilities also mean that share performance need not exactly match HYPE’s market price.
Rank #2
- 5-in-1 USB-C Hub: Experience comprehensive connectivity featuring a Power Delivery input, two USB-A 2.0 ports, a USB-A 3.0 port, and an HDMI port. (Note: The USB-C power delivery input port is only for connecting an external wall charger to power your laptop and cannot power peripheral devices.)
- 90W Pass-Through Charging: Achieve optimal charging with 90W pass-through power to your laptop, supported by a total input of 100W, with the hub reserving 10W for operational efficiency. (Note: Wall charger not included.)
- Quick Data Transfers: Accelerate your productivity with rapid data transfers using a high-speed 5Gbps USB 3.0 port and two 480Mbps USB 2.0 ports.
- 4K HDMI Display: Enhance your visual experience with a hub capable of delivering 4K resolution at 30Hz in both mirror and extend modes. Please note that this hub is compatible with MacBook (macOS 12 and newer), Windows 10 and 11, ChromeOS, and laptops equipped with DP Alt Mode and Power Delivery. Note: This device is not compatible with Linux.
- What You Get: Anker USB-C Hub (5-in-1, 4K HDMI), welcome guide, 18-month warranty, and our friendly customer service.
Products with different tickers are not interchangeable
“Hyperliquid ETF” is a broad label, not one uniform product. These dated disclosures describe different structures and trading claims; listing approval, an issuer’s launch announcement, and verified active trading are not the same thing.
| Product | Exposure and objective | Staking and fees | Listing information in cited sources |
|---|---|---|---|
| 21Shares Hyperliquid ETF (THYP) | Spot HYPE exposure; seeks to track HYPE as measured by the FTSE Hyperliquid Index, adjusted for expenses and liabilities. | Its SEC-filed Form 10-Q for the quarter ended March 31, 2026, reports a unitary sponsor fee of 0.30% of NAV. The trust may reflect staking rewards if the sponsor determines staking can be conducted without undue legal or regulatory risk. | The same report says the trust commenced operations and Nasdaq trading began May 12, 2026. |
| Bitwise Hyperliquid ETF (BHYP) | HYPE exposure through the product described by Bitwise; consult its current prospectus for the precise objective and structure. | Bitwise’s May 14, 2026 announcement stated a 0.34% sponsor fee, with a 0% fee for the first month on the fund’s first $500 million in assets. It also said Bitwise intended to stake holdings through its in-house staking division. These are issuer-stated terms and intentions; check current documents for changes. | NYSE Arca’s May 13, 2026 certification to the SEC supports approval for listing. Bitwise announced in May 2026 that NYSE trading was intended to start May 15; the cited facts do not independently verify ongoing trading status. |
| Grayscale Hyperliquid Staking ETF (HYPG) | The SEC-filed prospectus says the trust would hold HYPE and describes an objective that includes HYPE staking consideration if the stated condition is met and staking is implemented. | Staking is conditional in the cited prospectus; the fee is not stated here. | The prospectus says shares were approved for Nasdaq listing and describes an intention to issue shares. That filing alone does not establish launch or current trading status. |
| 21Shares 2x Long HYPE ETF (TXXH) | Leveraged exposure, not a spot HYPE fund. It should not be treated as interchangeable with THYP. | Fee and staking terms are not stated here. | 21Shares described the product in its May 12, 2026 announcement; current trading status is not established by that announcement alone. |
Fees, benchmarks, custody, creation and redemption mechanics, and legal protections should be checked in each product’s latest prospectus and exchange disclosures. In particular, Bitwise says BHYP is not registered under the Investment Company Act of 1940 and is not subject to the same protections as registered ETFs and mutual funds. The word “ETF” in a product name does not establish that every product has the same legal wrapper.
Recommended Free Tools
Rank #3
- Sleek 7-in-1 USB-C Hub: Features an HDMI port, two USB-A 3.0 ports, and a USB-C data port, each providing 5Gbps transfer speeds. It also includes a USB-C PD input port for charging up to 100W and dual SD and TF card slots, all in a compact design.
- Flawless 4K@60Hz Video with HDMI: Delivers exceptional clarity and smoothness with its 4K@60Hz HDMI port, making it ideal for high-definition presentations and entertainment. (Note: Only the HDMI port supports video projection; the USB-C port is for data transfer only.)
- Double Up on Efficiency: The two USB-A 3.0 ports and a USB-C port support a fast 5Gbps data rate, significantly boosting your transfer speeds and improving productivity.
- Fast and Reliable 85W Charging: Offers high-capacity, speedy charging for laptops up to 85W, so you spend less time tethered to an outlet and more time being productive.
- What You Get: Anker USB-C Hub (7-in-1), welcome guide, 18-month warranty, and our friendly customer service.
What staking can—and cannot—add
Some products may stake some or all of their HYPE holdings to seek protocol rewards. Rewards are variable, not a guaranteed yield: they can depend on holdings, protocol rates, participation, and network conditions. The 21Shares SEC filing says staked HYPE is subject to a seven-day protocol unbonding period plus a one-day validator-specific lockup. During unbonding, those tokens cannot move or trade, which may limit the trust’s ability to meet liquidity or redemption needs.
Policies differ. THYP’s filing makes staking contingent on the sponsor’s assessment of legal and regulatory risk. The Grayscale prospectus describes staking consideration subject to a stated condition and implementation. Bitwise’s cited announcement states an intention to stake holdings; that announcement is not evidence of a guaranteed reward or a fixed current yield.
Rank #4
- Dual Converters, Infinite Potential：Includes 2× USB C male to USB A female adapters and 2× USB A male to USB C female adapters. Perfect for a wide range of uses—tablets with Bluetooth keyboards, expand USB ports on macbook, and more. Two different converters for all your daily needs
- Next-Level 10Gbps & 3A Charging: No more slow 480Mbps, this usb to usb c adapter has a transfer speed of up to 10Gbps, allowing you to do more transferring in less time. This usb adapter fits both USB A and USB C charger, supporting up to 3A fast charging
- Upgraded Exquisite Craftsmanship: With an aluminum alloy housing and metal connector, the usbc to usb adapter is extremely durable and sturdy. Rigorously tested to withstand more than 10,000 times of plugging and unplugging, ensuring long-lasting performance
- Broad Compatible: The usb c to usb adapter widely supports all USB C/ USB A devices like laptops, tablets, cellphones, car chargers, and phone chargers. Such as compatible with MacBook Pro/Air 2023/2022, Thunderbolt 4/3 Devices,Apple MagSafe Watch 9/8/7/SE/Ultra, iPad Pro 2022/2021, Samsung Galaxy S23/S20/S10, and iPhone 17/16/15 Pro. Plug and play
- Please Note: To reach 10Gbps speed, keep the cable under 3.3 ft. For USB A Male to USB C adapters, try flipping the USB C connector. USB C Male to USB A adapters support bidirectional 10Gbps transfer within 3.3 ft
Risks to consider before buying
- HYPE price volatility: The token’s value can fall sharply. Grayscale’s prospectus warns that investors could lose all or substantially all of their investment.
- Tracking and market-price differences: Fees reduce the assets represented by shares, and the exchange price can be above or below NAV. The fund’s benchmark and valuation rules also affect how closely its results follow HYPE.
- Staking and liquidity: Rewards are uncertain, and tokens locked during unbonding may not be available when the trust needs to sell or meet redemptions.
- Custody and operations: Trusts rely on custodians, authorized participants, and other service providers. An interruption or replacement could affect safekeeping or fund operations.
- Protocol and market structure: Grayscale identifies substantial perpetual-futures and leveraged-instrument activity on the network as a possible source of disproportionate effects during market dislocations.
- Regulatory and tax uncertainty: Product disclosures discuss uncertainty around regulation, staking, and potential tax consequences. The appropriate treatment depends on individual circumstances and jurisdiction.
How to assess a specific ticker
Before placing an order, identify the exact fund rather than relying on a general search for “Hyperliquid ETF.” Review its latest prospectus and exchange information for its exposure type, benchmark, current fees, staking policy, custody arrangements, legal structure, and trading status. Then consider whether the share price is near its latest NAV and whether the product’s risks and trading hours fit your needs.
Some figures published by issuers describe the network rather than the ETF itself. For example, Grayscale’s prospectus reported a maximum HYPE supply of 1 billion, circulating supply of approximately 256 million, 24-hour trading volume of approximately $232.7 million, and aggregate market value of $9.4 billion, all as of March 31, 2026. Bitwise’s 2026 launch announcement cited DefiLlama for $2.9 trillion in Hyperliquid trading volume in 2025; its May 14, 2026 announcement cited Chainspect for approximately 200,000 orders processed per second. These are dated figures attributed to the named publishers and, where specified, their data sources—not current market measurements.
Quick Recap
Best Value
- 5-in-1 Connectivity: Equipped with a 4K HDMI port, a 5 Gbps USB-C data port, two 5 Gbps USB-A ports, and a USB C 100W PD-IN port. Note: The USB C 100W PD-IN port supports only charging and does not support data transfer devices such as headphones or speakers.
- Powerful Pass-Through Charging: Supports up to 85W pass-through charging so you can power up your laptop while you use the hub. Note: Pass-through charging requires a charger (not included). Note: To achieve full power for iPad, we recommend using a 45W wall charger.
- Transfer Files in Seconds: Move files to and from your laptop at speeds of up to 5 Gbps via the USB-C and USB-A data ports. Note: The USB C 5Gbps Data port does not support video output.
- HD Display: Connect to the HDMI port to stream or mirror content to an external monitor in resolutions of up to 4K@30Hz. Note: The USB-C ports do not support video output.
- What You Get: Anker 332 USB-C Hub (5-in-1), welcome guide, our worry-free 18-month warranty, and friendly customer service.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
