{
 "as_of": "2026-11-08",
 "cmr": "us-cm-kg/NASDAQ/THYP",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# 21Shares Hyperliquid Staking ETF (NASDAQ: THYP) — research page\n\nAs of 2026-11-08 · us-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is 21Shares Hyperliquid Staking ETF, listed on NASDAQ under ticker THYP, with ISIN US90137V1089. The LEI is not on the record, as no GLEIF record carries the exact legal name in jurisdiction US-DE. The security type is fund or trust by SIC or name, the sector is 6221 Commodity Contracts Brokers & Dealers, and the jurisdiction is United States, Delaware. The segment is not on the record. The status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 14 filings across 11 filing days in the window 2025-11-08 to 2026-11-08. By type, the record holds 7 prospectus filings, 4 regulatory filings, 2 results filings and 1 ad hoc filing. The median gap between filing days is 12.0 days. The latest filing is dated 2026-09-25, is of type regulatory filing, and falls 44 days before the record date of 2026-11-08. On NASDAQ the median cadence gap is 6.0 days, the median filings count is 52 and the median latency is 5.0 days across 4359 issuers. In sector 6221 the median cadence gap is 17.0 days, the median filings count is 16 and the median latency is 5 days across 137 issuers.\n\n## Auditor\n\nThe auditor of record is not on the record, as the latest annual report cover carries no dei:AuditorName tag. The auditor location is not on the record. The record holds no auditor changes.\n\n## Events and halts\n\nThe record holds two listing dates, 2026-05-08 and 2026-05-11. It holds no delisting, no name change, and no domicile change, as EDGAR states no dated change of state of incorporation on a filing line. The segment move is not on the record. The halt flag reads listed, not halted.\n\n## Orderability\n\nThe outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nNo research houses were found on the issuer's own investor-relations page, so the count is 0.\n\n## Open research\n\nNo openly published research notes were found, so the count is 0.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe sealed years that hold the issuer are 2025 and 2026. The market's earliest sealed date is 2021-01-04. The live record began on 2026-09-12.\n\n## Sources\n\n7 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.sec.gov/files/company_tickers_exchange.json (identity.exchange)\n- https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data (identity.isin)\n- https://data.sec.gov/submissions/CIK0002090011.json (identity.jurisdiction)\n- https://mcp.us-cm-kg.ai/events/NASDAQ/THYP (the disclosure lines)\n- https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts (the halt flag)\n- https://mcp.us-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://mcp.us-cm-kg.ai/record/NASDAQ/THYP (the record)\n",
 "market": "US",
 "node": "us-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [
    "2025",
    "2026"
   ],
   "live_record_began": "2026-09-12",
   "node_history_from": "2021-01-04",
   "node_years_sealed": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ],
   "record_version": 1,
   "sealed": true
  },
  "auditor": {
   "auditor": {
    "market": "US",
    "reason": "no dei:AuditorName tag on the latest annual report cover (foreign private issuers and older filings carry none)",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "US",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "US",
    "state": "not_on_record"
   },
   "changes": []
  },
  "cmr": "us-cm-kg/NASDAQ/THYP",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-11",
   "since": null,
   "state": "none_found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 4359,
     "median_cadence_gap_days": 6,
     "median_filings": 52,
     "median_latency_days": 5,
     "name": "NASDAQ"
    },
    "sector": {
     "issuers": 137,
     "median_cadence_gap_days": 17,
     "median_filings": 16,
     "median_latency_days": 5,
     "name": "6221 Commodity Contracts Brokers & Dealers"
    }
   },
   "by_type": {
    "ad_hoc": 1,
    "prospectus": 7,
    "regulatory_filing": 4,
    "results": 2
   },
   "cadence_median_gap_days": 12,
   "filing_days": 11,
   "filings": 14,
   "latency_days": 44,
   "latest": [
    {
     "category": "424I",
     "date": "2026-09-25",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000121390026103576/ea0306711-424i_21shares.htm",
     "title": "424I — FORM 424I",
     "type": "regulatory_filing"
    },
    {
     "category": "424B3",
     "date": "2026-09-24",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000121390026102743/ea030648001-424b3_21shares.htm",
     "title": "424B3 — 424B3",
     "type": "prospectus"
    },
    {
     "category": "10-K",
     "date": "2026-09-23",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000121390026102705/ea0304858-10k_21shares.htm",
     "title": "10-K — ANNUAL REPORT",
     "type": "results"
    },
    {
     "category": "424B3",
     "date": "2026-08-26",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000121390026094028/ea030324103-424b3_21shareshy.htm",
     "title": "424B3 — PROSPECTUS SUPPLEMENT",
     "type": "prospectus"
    },
    {
     "category": "8-K",
     "date": "2026-08-26",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000121390026093988/ea0303139-8k_21shareshype.htm",
     "title": "8-K — CURRENT REPORT (items 5.03,9.01)",
     "type": "ad_hoc"
    }
   ],
   "latest_filing_date": "2026-09-25",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.us-cm-kg.ai/events/NASDAQ/THYP",
   "window": {
    "from": "2025-11-08",
    "to": "2026-11-08"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "NASDAQ"
   },
   "isin": {
    "read_by": "SEC Fails-to-Deliver data (CUSIP for the symbol) · ISIN = US + CUSIP + ISO 6166 check digit",
    "read_date": "2026-10-14",
    "read_date_basis": "last_seen",
    "source": "https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data",
    "state": "sourced",
    "value": "US90137V1089"
   },
   "jurisdiction": {
    "read_by": "EDGAR submissions API (issuer header as filed) (stateOfIncorporation)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002090011.json",
    "state": "sourced",
    "value": "United States — Delaware"
   },
   "lei": {
    "market": "US",
    "reason": "no GLEIF record with the exact legal name in jurisdiction US-DE",
    "state": "not_on_record"
   },
   "name": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002090011.json",
    "state": "sourced",
    "value": "21Shares Hyperliquid Staking ETF"
   },
   "sector": {
    "read_by": "EDGAR submissions API (issuer header as filed) (SIC code as assigned by the SEC)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002090011.json",
    "state": "sourced",
    "value": "6221 Commodity Contracts Brokers & Dealers"
   },
   "security_type": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002090011.json",
    "state": "sourced",
    "value": "Fund / trust (by SIC or name)"
   },
   "segment": {
    "market": "US",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "THYP"
   },
   "website": {
    "market": "US",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": [],
   "domicile_change": {
    "market": "US",
    "reason": "EDGAR states no dated change of state of incorporation on a filing line",
    "state": "not_on_record"
   },
   "listing": [
    {
     "date": "2026-05-08",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000121390026053685/ea0287977-8a12b_21shares.htm",
     "title": "8-A12B — FOR REGISTRATION OF CERTAIN CLASSES"
    },
    {
     "date": "2026-05-11",
     "source": "https://www.sec.gov/Archives/edgar/data/2090011/000135445726000437/THYP_8A_Cert_2090011.pdf",
     "title": "CERT"
    }
   ],
   "name_change": [],
   "segment_move": {
    "market": "US",
    "reason": "the exchanges' tier transfers are not EDGAR filings",
    "state": "not_on_record"
   }
  },
  "market": "US",
  "node": "us-cm-kg",
  "numbers_hash": "sha256:4ec3f5256f83d6811a0af9bc9502ef1cd430b0fb762be78abee5381b32685f02",
  "open_research": {
   "read_date": "2026-11-11",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [],
   "determinable": false,
   "read": {
    "chapter": "https://mcp.us-cm-kg.ai/book/aio.json",
    "door": "https://mcp.us-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1",
   "section": "us.aio.v8"
  },
  "record": {
   "as_of": "2026-11-08",
   "url": "https://mcp.us-cm-kg.ai/record/NASDAQ/THYP",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:4ec3f5256f83d6811a0af9bc9502ef1cd430b0fb762be78abee5381b32685f02",
 "path": "/us/NASDAQ/THYP",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is 21Shares Hyperliquid Staking ETF, listed on NASDAQ under ticker THYP, with ISIN US90137V1089. The LEI is not on the record, as no GLEIF record carries the exact legal name in jurisdiction US-DE. The security type is fund or trust by SIC or name, the sector is 6221 Commodity Contracts Brokers & Dealers, and the jurisdiction is United States, Delaware. The segment is not on the record. The status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 14 filings across 11 filing days in the window 2025-11-08 to 2026-11-08. By type, the record holds 7 prospectus filings, 4 regulatory filings, 2 results filings and 1 ad hoc filing. The median gap between filing days is 12.0 days. The latest filing is dated 2026-09-25, is of type regulatory filing, and falls 44 days before the record date of 2026-11-08. On NASDAQ the median cadence gap is 6.0 days, the median filings count is 52 and the median latency is 5.0 days across 4359 issuers. In sector 6221 the median cadence gap is 17.0 days, the median filings count is 16 and the median latency is 5 days across 137 issuers.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is not on the record, as the latest annual report cover carries no dei:AuditorName tag. The auditor location is not on the record. The record holds no auditor changes.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The record holds two listing dates, 2026-05-08 and 2026-05-11. It holds no delisting, no name change, and no domicile change, as EDGAR states no dated change of state of incorporation on a filing line. The segment move is not on the record. The halt flag reads listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable. The chapter's orderability section carries no client categories, so the outcome cannot name its client category. The rule version is acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "No research houses were found on the issuer's own investor-relations page, so the count is 0.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found, so the count is 0.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The sealed years that hold the issuer are 2025 and 2026. The market's earliest sealed date is 2021-01-04. The live record began on 2026-09-12.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "7 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.sec.gov/files/company_tickers_exchange.json"
  },
  {
   "for": "identity.isin",
   "source": "https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://data.sec.gov/submissions/CIK0002090011.json"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.us-cm-kg.ai/events/NASDAQ/THYP"
  },
  {
   "for": "the halt flag",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.us-cm-kg.ai/book/aio.json"
  },
  {
   "for": "the record",
   "source": "https://mcp.us-cm-kg.ai/record/NASDAQ/THYP"
  }
 ],
 "title": "21Shares Hyperliquid Staking ETF (THYP) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}