21Shares Adds Options Trading to Hyperliquid ETF

21Shares, a provider of cryptocurrency exchange-traded funds (ETFs), has added options trading to its Hyperliquid ETF, which tracks the native token HYPE. The new weekly and monthly contracts are available for trade on the Nasdaq under the ticker THYP.

The options were introduced just six weeks after the initial launch of THYP, which recorded $1.8 million in volume and pulled in $1.2 million in net inflows on its first trading day. The ETF charges a management fee of 0.30% and integrates staking rewards, allowing holders to earn yield on HYPE.

The addition of options contracts is expected to provide institutional investors with new strategies for managing their exposure to HYPE. Portfolio managers can now write covered calls against THYP positions to generate income or buy protective puts to limit downside.