CoinShares International Limited ("CoinShares" or "the Group") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), a global leading asset manager specialising in digital assets and European leader, today announced the launch of the CoinShares Physical Hyperliquid Staking ETP, providing investors with regulated, institutional-grade exposure to Hyperliquid's native HYPE token at 0% management fee with a 0.5% annual yield.
The launch reflects CoinShares' conviction-led approach to product development: building investment products around protocols that demonstrate exceptional fundamentals and embody the firm's hybrid finance thesis — the convergence of decentralised innovation with institutional-grade infrastructure.
Product Details
|
Attribute |
Details |
|
Product Name |
CoinShares Hype ETP |
|
Ticker |
LIQD |
|
ISIN |
GB00BVBJQ593 |
|
Exchange |
Xetra |
|
Management Fee |
0% |
|
Staking Yield |
0.5% p.a. |
|
Backing |
100% physically backed |
Why Hyperliquid: The Data Behind the Conviction
Hyperliquid has emerged as the leading decentralised perpetual futures exchange, processing over $3 trillion1 in trading volume and capturing approximately 70% of on-chain perpetual futures market share. The protocol has achieved what many considered impossible: matching — and in some cases exceeding — the performance metrics of centralised exchanges while maintaining fully decentralised execution.
Key performance indicators supporting CoinShares' investment thesis include:
- $3.8 trillion2 in perpetual futures trading volume
- 30%3 market share of on-chain derivatives trading
- 41% seven-day price appreciation during a period when Bitcoin declined 38% from its October 2025 peak
- Ripple Prime integration (4 February 2026), providing 300+ institutional clients access to on-chain perpetuals — the first institutional prime brokerage integration for any decentralised exchange
Hyperliquid's performance during the current market correction has led analysts to characterise HYPE as a "defensive play" within digital assets, demonstrating resilience typically associated with traditional safe-haven sectors. The main reason for this characterisation is how HYPE is benefiting from volatile periods through trading fee revenues.
Hybrid Finance in Practice
Jean-Marie Mognetti, CEO and Co-Founder at CoinShares, commented:
"CoinShares builds products around protocols we believe in. Hyperliquid represents exactly the kind of infrastructure we've anticipated since we launched the world's first Bitcoin ETP in 2015: decentralised systems performing at institutional scale, with the transparency and composability that traditional finance cannot replicate.
"The future isn't TradFi versus DeFi. It's hybrid finance, the best of both worlds. Hyperliquid exemplifies this convergence, and our Hype ETP gives investors a regulated pathway to participate."
James Butterfill, Head of Research at CoinShares, added:
"Our approach has always been to develop products for projects we genuinely believe in and have a sound fundamental investment thesis. Hyperliquid's fundamentals speak for themselves: it has matched centralised exchange volumes while remaining fully on-chain. The 0% management fee and 2% yield structure reflect our confidence in this protocol's long-term positioning."
