21Shares to List Spot Hyperliquid ETF on Nasdaq May 12

21Shares announced it will list its spot Hyperliquid ETF, THYP, on Nasdaq on May 12, providing brokerage clients with regulated exposure to the native token of the Hyperliquid perpetuals trading network, according to BeInCrypto. The fund, structured as a grantor trust, allows the sponsor to stake HYPE for yield while maintaining passive price exposure. Custody is managed by Anchorage Digital Bank and BitGo Bank & Trust, with cold storage backed by up to $350 million in insurance. The ETF charges a 0.30% annual sponsor fee, paid in HYPE, and tracks the FTSE Hyperliquid Index. Hyperliquid's HYPE token surged to $42.071 following the announcement.