21Shares Hyperliquid ETF (THYP) is a US-listed spot Hyperliquid ETF from 21Shares. It lets investors gain exposure to the price of Hyperliquid through a regulated exchange-traded fund — bought and sold like any stock in a brokerage account, without the need to self-custody Hyperliquid or manage private keys, wallets and exchange accounts. The current THYP price is $42.50, up 10.59% over the last 24 hours, within a all-time range of $38.00 to $44.45.
As a spot ETF, THYP's share price closely follows the market value of the Hyperliquid the fund holds, minus its annual management fee. The chart above shows THYP price history at 5-minute resolution, so you can see intraday moves alongside longer-term performance (7-day, 30-day). Each share represents a fractional claim on the fund's Hyperliquid holdings, and authorised participants create or redeem shares to keep the market price aligned with the fund's net asset value (NAV).
Buying THYP is different from buying Hyperliquid on a crypto exchange. With the ETF you never hold the underlying coins yourself — the fund's custodian does — so there are no wallets, seed phrases or withdrawal risks to manage. In exchange, you pay the fund's management fee and can only trade during US market hours. Holding Hyperliquid directly gives you 24/7 trading and full self-custody, but shifts all the security and storage responsibility onto you. Many investors choose THYP specifically because it fits inside a normal brokerage or tax-advantaged account.
A spot Hyperliquid ETF like THYP holds the actual asset, so it tracks the real-time Hyperliquid price. A futures ETF instead holds dated futures contracts and has to “roll” them as they expire, which can introduce tracking error and extra cost in certain market conditions. For investors who simply want exposure that mirrors the Hyperliquid price, a spot product is usually the more direct vehicle.
THYP trades on a US stock exchange during regular market hours, while Hyperliquid itself trades around the clock. When Hyperliquid moves significantly overnight or over a weekend, THYP can open at a noticeably different price than it closed at — a “gap.” This is normal for any crypto ETF and is one reason the 5-minute chart and the all-time range above are useful for understanding how THYP actually behaves day to day.
THYP is one of several US-listed spot Hyperliquid ETFs. Compare it with the other funds tracking Hyperliquid:
| Ticker | Fund | Price |
|---|---|---|
| THYP | 21Shares Hyperliquid ETF | $42.50 |
| Bitwise Hyperliquid ETF | $40.97 |
Prices and statistics on this page are derived from market data tracked by CryptoETF.today and are for informational purposes only. This is not investment advice. Verify fund details, fees and holdings on the issuer's official page before investing.
THYP can be bought through any brokerage that offers US-listed ETFs — you search for the ticker THYP, place an order, and the shares settle like any stock. To follow performance afterwards, add THYP to a free portfolio on CryptoETF.today: record your buys and sells, and the portfolio automatically tracks your average cost, current value and realised/unrealised profit. Create a portfolio →