Beloved oil trading platform lands on Wall Street with ETF

Since the war between the United States and Iran began on Feb. 28 this year, there is one asset which has shaken the global markets.

Oil has witnessed wild price spikes since the beginning of the war, and traders haven't missed the opportunity to bet on the asset.

But they faced one hurdle: Wall Street lets traders buy and sell oil only during limited hours on weekdays when the traditional market operates.

If it's a weekend or even a Wednesday night, traders didn't have the facility to bet on oil.

Related: Oil becomes second-most traded asset on popular crypto exchange

Oil traders flock to Hyperliquid

Enter Hyperliquid.

A decentralized digital asset trading exchange, Hyperliquid is built primarily for perpetual futures trading and lets users trade highly leveraged derivatives.

A key advantage it offers is 24/7 trading, unlike Wall Street which sleeps outside traditional trading hours.

Following the beginning of the war, oil traders had been looking for a platform that could offer a 24/7 avenue and Hyperliquid was exactly that kind of platform.

In fact, oil quickly became one of the top traded assets on Hyperliquid which has emerged as a significant liquidity hub for 24/7 on-chain trading infrastructure.

Besides Brent and WTI oil contracts, contracts linked to other traditional assets like precious metals and tokenized equities also rank among the top traded contracts on Hyperliquid.

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21Shares launches HYPE ETFs

Now even Wall Street wants a piece of it.

On May 12, major asset manager 21Shares announced the launch of two exchange-traded funds (ETFs) linked to HYPE, the native token of the Hyperliquid platform.

21shares Hyperliquid ETF (THYP) 21shares 2x Long HYPE ETF (TXXH)

While the former provides direct spot exposure and integrated staking rewards, the latter offers twice-leveraged exposure.

Andres Valencia, EVP, Investment Management at 21Shares, said, "Bringing THYP and TXXH to the U.S. market allows us to bridge the gap for American investors, offering them a transparent way to gain exposure to a network that is demonstrating a high-performance approach to decentralized trading infrastructure.”

THYP is an 33-Act spot ETP and is not registered under the Investment Company Act of 1940. Shareholders don't have the same regulatory protections as 40-Act registered products. An investment in THYP is not a direct investment in HYPE, 21Shares clarified.

Story Continues

On the other hand, TXXH is registered under the Investment Company Act of 1940.

Related: Oil's favorite exchange just beat Robinhood

This story was originally published by TheStreet on May 12, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.

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