These ETFs are the bridge that brings TradFi capital into HYPE: pension funds, RIAs, brokerage accounts and institutional allocators can now get exposure to Hyperliquid through a regulated wrapper they already know how to buy. HYPE is the native token of Hyperliquid, a Layer 1 blockchain and on-chain perps DEX with ~$8B daily volume and 99% of revenue routed to HYPE buybacks. Data as of May 22, 2026.
Every regulated HYPE wrapper
Three products are already live. 21Shares' THYP (Nasdaq, launched May 12, 2026) is a '33 Act spot fund holding HYPE, staking via Figment at 30–70% (up to 100%) on a 70/30 split with quarterly distributions from Jun 30, 2026, and $48.8M AUM; its 0.30%/yr fee is waived through Oct 8, 2026. 21Shares' TXXH is a '40 Act 2x daily leveraged product via derivatives with synthetic exposure only and $4.4M AUM. Bitwise's BHYP (NYSE, May 15, 2026) is a '33 Act spot fund at 0.34%/yr — waived the first month on the first $500M — staking in-house via Bitwise Onchain Solutions with 10% of fees buying HYPE on the balance sheet, and $30.5M AUM. Grayscale's GHYP (spot grantor trust) is pending SEC approval, and VanEck's VHYP (spot staking ETF) is in progress, with buybacks planned. The open question: after BTC and ETH, will iShares (BlackRock) show up with a HYPE ETF of its own?
Key findings
- Three HYPE ETFs are live — 21Shares' THYP ($48.8M AUM), Bitwise's BHYP ($30.5M) and 21Shares' leveraged TXXH ($4.4M).
- Grayscale's GHYP and VanEck's VHYP are still pending or filing; the open question is whether iShares (BlackRock) will follow.
- HYPE is Hyperliquid's native token — an L1 and on-chain perps DEX with ~$8B daily volume and 99% of revenue routed to buybacks.