21Shares Hyperliquid ETF

S-1/A amended

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.

S-1 filed

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).