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21Shares Hyperliquid ETF

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ipo priced Nasdaq EFFECT

21Shares Hyperliquid ETF IPO research page with SEC filing history, offering status, deal terms, structured filing extracts, company news, and comparable IPO context. Latest filing: EFFECT on 2026-05-11. Current deal snapshot: exchange Nasdaq.

Filing Timeline

SEC EDGAR
EFFECT effective
SEC effectiveness notice
SEC declared the registration statement effective, allowing the offering to proceed.
Follows S-1/A and marks the registration effective.
The 21Shares Hyperliquid ETF filed a Notice of Effectiveness for its S-1 registration statement, indicating the SEC has accepted the filing for public offering. The document confirms the effectiveness date of May 11, 2026, but provides no detailed operational, financial, or structural information about the ETF. Previous filings (CERT) are not analyzable due to corrupted or non-readable content.
2026-05-11 · 9999999995-26-001567
CERT inactive
CERT
Pre-IPO filing captured from the SEC submission timeline.
Follows S-1/A in the pre-IPO sequence.
The 21Shares Hyperliquid ETF (Trust) is an exchange-traded fund tracking the FTSE Hyperliquid Index, which reflects the performance of HYPE tokens. The Trust holds HYPE and uses staking services to generate returns, with custodians Anchorage Digital Bank and BitGo Bank. The Sponsor, 21Shares US LLC, acts as the initial seed investor and statutory underwriter. The Trust is not regulated as an investment company under the 1940 Act and carries significant risks related to cryptocurrency volatility and regulatory uncertainty.
2026-05-11 · 0001354457-26-000437
424B3 priced
Final prospectus
Final prospectus filed near launch with final deal terms.
Follows S-1 and confirms the priced prospectus.
Shares · Exchange Nasdaq Stock Market LLC · Ticker THYP · Baskets of 10,000 Shares · Use of proceeds To purchase HYPE tokens prior to listing · Underwriters 21Shares US LLC
The 21Shares Hyperliquid ETF (Trust) is an exchange-traded fund designed to track the performance of HYPE tokens, the native digital asset of the Hyperliquid Network, through the FTSE Hyperliquid Index. The Trust holds HYPE and may engage third-party staking services to generate rewards, while relying on custodians Anchorage Digital Bank and BitGo Bank & Trust. The Sponsor, 21Shares US LLC, acts as the initial seed investor and statutory underwriter, with shares expected to list on Nasdaq under the ticker THYP. The Trust is an emerging growth company and not subject to traditional investment company regulations.
2026-05-11 · 0001213900-26-054478
8-A12B effective
Exchange Act registration
Registration filed to list the securities under the Exchange Act ahead of trading.
First tracked pre-IPO filing for this issuer.
The 21Shares Hyperliquid ETF filed Form 8-A12B to register common units of beneficial interest for listing on Nasdaq, referencing its prior S-1/A registration statement. The filing confirms the Trust's structure as a passive vehicle tracking HYPE token performance via the FTSE Hyperliquid Index, with no material changes from the previous S-1/A filing. The Trust's operations involve staking HYPE through third-party providers and custodians, with no new details disclosed in the 8-A12B.
2026-05-08 · 0001213900-26-053685
S-1/A amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
First tracked pre-IPO filing for this issuer.
21Shares Hyperliquid ETF · Exchange Nasdaq · Ticker HYPE · Use of proceeds To track the performance of HYPE tokens
The 21Shares Hyperliquid ETF (Trust) is an exchange-traded fund tracking HYPE tokens, the native asset of the Hyperliquid Network. The Trust aims to mirror the FTSE Hyperliquid Index, with no leverage or derivatives. It relies on third-party staking services and custodians (Anchorage and BitGo) for HYPE holdings. The Sponsor, 21Shares US LLC, acts as the statutory underwriter for initial seed investments. Shares are expected to trade on Nasdaq under ticker THYP, with a focus on passive tracking of HYPE without active management.
2026-04-28 · 0001213900-26-048260
S-1/A amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
First tracked pre-IPO filing for this issuer.
Common Shares of Beneficial Interest · Exchange Nasdaq · Ticker HYPE · Baskets of 10,000 Shares · Use of proceeds To support the Trust's operations and staking activities · Flags units
The 21Shares Hyperliquid ETF (the Trust) is an exchange-traded fund designed to track the performance of HYPE tokens via the FTSE Hyperliquid Index, adjusted for expenses and staking rewards. The Trust holds HYPE and does not use leverage or derivatives. It relies on third-party staking services and custodians (Anchorage and BitGo) for HYPE management. The Sponsor, 21Shares US LLC, acts as the Initial Seed Creation Investor, with plans to list Shares on Nasdaq under the ticker THYP. The Trust is structured as a grantor trust without regulatory protections under the 1940 Act.
2026-04-14 · 0001213900-26-043631
S-1/A amended
Amended registration statement
Updated registration statement filed after SEC comments or deal changes.
Updates the prior S-1 filing.
Price $50.00
Common · Exchange NDAQ · Use of proceeds To pay certain expenses, including Sponsor fees and operational costs
The 21Shares Hyperliquid ETF (the Trust) is an exchange-traded fund designed to track the performance of HYPE tokens, the native digital asset of the Hyperliquid Network. The Trust holds HYPE and values its shares daily based on the Pricing Benchmark, adjusted for expenses. It may stake a portion of HYPE through third-party providers, with the Sponsor overseeing selection and allocation. The Trust is an emerging growth company not regulated under the Investment Company Act of 1940, and its shares are speculative with significant risks.
2026-02-13 · 0001213900-26-016539
S-1 filed
Initial registration statement
Initial public filing submitted to start the SEC review process.
First tracked pre-IPO filing for this issuer.
common shares of beneficial interest · Exchange [●] · Use of proceeds to pay certain expenses, including fees and operational costs
21Shares Hyperliquid ETF (the Trust) is an exchange-traded fund that seeks to track the performance of HYPE tokens, the native digital asset of the Hyperliquid blockchain network. The Trust holds HYPE and values its shares daily based on a pricing benchmark. It may engage third-party staking services to earn rewards from staking HYPE, though no definitive decisions have been made regarding staking mechanisms. The Trust is not regulated as an investment company under the 1940 Act, and investors lack the regulatory protections afforded to traditional investment vehicles. Key entities include 21Shares US LLC (Sponsor), CSC Delaware Trust Company (Trustee), and Coinbase Custody and BitGo Trust Company (HYPE Custodians).
2025-10-29 · 0001213900-25-103237
Comparable Deals

2 comparable deals

FinancialsLast 18 months
Only 0 strict matches; expanded to 2 using nearest neighbors.
-24.4%
Median day-1
50%
Above issue
-31.5%
Median week-1
-61.3%
Downside (p10)

Recent News

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