21Shares to launch HYPE ETF tomorrow as Hyperliquid gains Wall Street access

21Shares said its Hyperliquid ETF will launch on May 12, marking the latest push to bring HYPE exposure into US brokerage accounts as institutional interest in altcoin ETFs expands beyond Bitcoin, Ethereum, and Solana.

The 21shares Hyperliquid ETF ( $THYP ) is coming May 12, 2026.

See you tomorrow.

The Fund is not a fund registered under the Investment Company Act of 1940, as amended (“1940 Act”), and is not subject to regulation under the 1940, unlike most ETFs or mutual funds. An…

— 21shares US (@21shares_us) May 11, 2026

The fund, trading under THYP, is expected to list on Nasdaq and track HYPE through the FTSE Hyperliquid Index, after expenses and liabilities. It may also include staking rewards if 21Shares determines staking can be done without legal, regulatory, or tax risks.

21Shares’ filing lists Anchorage Digital Bank and BitGo Bank & Trust as HYPE custodians, while the Bank of New York Mellon serves as administrator, transfer agent, and cash custodian.

The prospectus says Figment has been engaged as the staking services provider, with the trust generally intending to stake between 30% and 70% of its HYPE holdings depending on liquidity needs and market conditions.

The launch comes as other issuers line up competing Hyperliquid products. Bitwise filed for a spot Hyperliquid ETF that would hold HYPE directly and trade under the ticker BHYP on NYSE Arca, while Grayscale filed an amended registration statement for its proposed Grayscale HYPE ETF in April.

The race has intensified as HYPE’s price rebounds. CoinGecko data showed HYPE trading near $42 at press time, compared with a Jan. 20 low near $20.9, meaning the token has more than doubled from that late January level.

HYPE’s rally has tracked broader enthusiasm for Hyperliquid, which has become one of DeFi’s most prominent perpetual futures venues. DefiLlama data shows Hyperliquid processed $172 billion in volume over the past 30 days, while the protocol holds more than $5 billion in TVL.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.