Swiss-based crypto asset manager 21Shares is poised to bring Hyperliquid, a decentralized perpetual exchange built on a dedicated layer-1 blockchain, to Wall Street. The listing of its Hyperliquid ETF on the NASDAQ tomorrow, May 12, will give traditional investors a regulated entry point into one of DeFi's most promising protocols.
The fund, trading under the ticker THYP, will carry a management fee of 30 basis points and incorporate built-in staking yields. This means that holders may benefit from the protocol's native staking rewards in addition to any price appreciation in HYPE, the token powering Hyperliquid's ecosystem.