What Is THYP ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The 21Shares Hyperliquid ETF (THYP) is a single-digital-asset product linked to the price of the HYPE token. For investors seeking crypto exposure through a brokerage account, volatility, the fee structure, and alternative crypto-related stocks are the key selection criteria.
SubscribeWhat Is the 21Shares Hyperliquid ETF?
This is a single-digital-asset ETF designed to track the price movements of the HYPE token, the native token of the Hyperliquid network. It provides indirect exposure to a specific cryptocurrency through a brokerage account.
It is suited to investors who want exposure to a specific digital asset through a brokerage account rather than investing in crypto directly, and who can tolerate high volatility.
It is a passively managed (index-tracking) ETF operated by 21Shares.
How Does the 21Shares Hyperliquid ETF Invest?
| Item | Details |
|---|---|
| Tracking Target | HYPE token price |
| Management Style | Passive (single-asset tracking) |
| Rebalancing Frequency | Not applicable (single asset) |
| Dividend Frequency | No distributions |
| Total Expense Ratio | 0.30% |
The fund aims to track the price of a single digital asset, the HYPE token. Unlike index-based ETFs made up of multiple holdings, its exposure is concentrated in the price movements of one token. The issuer secures this exposure through the underlying asset or related products.
- Single-cryptocurrency exposure accessible through a brokerage account
- An issuer specializing in crypto-based products
21Shares Hyperliquid ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $69.1M, and the total expense ratio is 0.30% per year.
A key advantage is that investors can gain exposure without an individual crypto exchange account, but because the fund is concentrated in a single asset, its diversification benefit is limited.
21Shares Hyperliquid ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause it is linked to a single digital asset, the fund directly reflects the price movements of the underlying token and shows the large volatility typical of the crypto market. Its direction tends to depend heavily on market sentiment and the liquidity environment.
When interest in crypto-related listed products is rising, inflows can pick up, but when risk aversion strengthens, outflow pressure also grows. Changes in the regulatory environment act as a factor affecting fund flows.
21Shares Hyperliquid ETF Pros and Cons
Its strength is the accessibility of gaining exposure to a specific cryptocurrency through a brokerage account, while single-asset concentration and high volatility are the main risk factors.
💪 Key Strengths
⚠️ Points to Watch
21Shares Hyperliquid ETF Alternative ETFs and Related Products
Investors who want the same single-digital-asset approach can consider major crypto ETFs such as IBIT, which is linked to Bitcoin, and ETHA, which is linked to Ethereum, as alternatives or complements. However, because the underlying tokens they track differ, their price movements and risk profiles also differ, so it is advisable to compare them based on the asset you want exposure to and your tolerance for volatility.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 IBIT | iShares Bitcoin Trust ETF | $43.36 | -5.1% | $65.8B | 0.25% | - | -28.2% |
 FBTC | Fidelity Wise Origin Bitcoin Fund | $66.71 | -5.0% | $14.2B | 0.25% | - | -28.1% |
 AMLP | Alerian MLP ETF | $54.06 | +0.3% | $13.0B | 1.01% | 7.53% | +15.2% |
 PFF | iShares Trust iShares Preferred and Income Securities ETF | $28.47 | -0.8% | $11.7B | 0.45% | 5.73% | -9.1% |
 GBTC | Grayscale Bitcoin Trust | $59.12 | -5.1% | $10.1B | 1.50% | - | -29.1% |
21Shares Hyperliquid ETF Investor Checkpoints
Here are the points to review before investing in THYP. Since this product is exposed to a single cryptocurrency, it is important to check volatility, costs, asset concentration, and regulatory factors in advance, and to consider whether the position size fits your own risk tolerance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over a long holding period | Annual fee applies |
| 📉 Volatility | Whether you can tolerate the large swings typical of crypto | High |
| 🎯 Asset Concentration | Confirm the concentrated exposure to a single token | Limited diversification |
| ⚖️ Regulation | Monitor changes in the crypto regulatory environment | Needs verification |
Because exposure is concentrated in a single cryptocurrency, losses can be large if the underlying token plunges. Regulatory changes and tighter liquidity can also significantly affect short-term prices.
It is one option for investors who want exposure to a specific digital asset through a brokerage account. However, given the high volatility and single-asset concentration, it is advisable to approach it with a position size you can tolerate.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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