21Shares Hyperliquid Staking ETF

The Trust operates as an exchange-traded fund designed to track the performance of HYPE, referencing the FTSE Hyperliquid Index. It seeks to achieve its investment objective primarily by holding HYPE directly and generating additional yields through staking a portion of its digital assets. The fund does not actively trade HYPE except to handle the creation and redemption of shares or satisfy operational expenses. The Trust continuously issues common shares of beneficial interest to institutional Authorized Participants, who transact in cash or in-kind creation baskets, while retail investors trade shares on the Nasdaq stock exchange.

Organized as a Delaware statutory trust, the entity is managed by its Sponsor, a Delaware limited liability company, and governed by a Delaware trustee. The Trust employs no corporate officers or direct personnel. Its operations rely on external institutional service providers, including custodians with private key facilities across the United States and Europe, as well as an external staking services provider based in Canada.

Summary of the business section of 21Shares Hyperliquid Staking ETF's latest annual report, written by StockData.