v3.26.1
Creations and Redemptions of Shares
 1 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Creations and Redemptions of Shares

4. Creations and Redemptions of Shares

The Trust creates and redeems Shares from time to time, but only in one or more Baskets issued to the Authorized Participant in exchange for the delivery of HYPE to the Trust or the distribution of HYPE by the Trust. The amount of HYPE required for each Creation Basket or Redemption Basket is determined by dividing (x) the amount of HYPE owned by the Trust at 4:00 p.m., New York time, on such trade date of a creation or redemption order, after deducting the amount of HYPE representing the U.S. dollar value of accrued but unpaid fees and expenses of the Trust, by (y) the number of Shares outstanding at such time and multiplying the quotient obtained by 10,000. Each Share represented approximately 0.3536 of one HYPE at June 30, 2026.

As of the date of this Quarterly Report, Authorized Participants may submit orders to create or redeem Shares through transactions that are referred to as “cash orders” or “in-kind orders”, in accordance with the agreements with Authorized Participants.

 

 

 

June 3, 2026 (the Commencement of the Trust's Operations) to June 30, 2026

 

Activity in Number of Shares Issued and Redeemed:

 

 

Shares issued

 

 

5,470,000

 

Shares redeemed

 

 

-

 

Net Change in Number of Shares Issued and Redeemed

 

 

5,470,000

 

 

(Amounts in thousands)

 

June 3, 2026 (the Commencement of the Trust's Operations) to June 30, 2026

 

Activity in Value of Shares Issued and Redeemed:

 

 

 Shares issued

 

$

122,946

 

Shares redeemed

 

 

-

 

Net Change in Value of Shares Issued and Redeemed

 

$

122,946

 

HYPE receivable represents the value of HYPE covered by contractually binding orders for the creation of Shares where the HYPE has not yet been transferred to the Trust’s account. Generally, ownership of the HYPE is transferred within no more than two business days of the trade date.

 

 

As of June 30,

 

(Amounts in thousands)

 

2026

 

HYPE receivable

 

$

-

 

 

 

 

HYPE payable represents the value of HYPE covered by contractually binding orders for the redemption of Shares where the HYPE has not yet been transferred out of the Trust’s account. Generally, ownership of the HYPE is transferred within no more than two business days of the trade date.

 

 

As of June 30,

 

(Amounts in thousands)

 

2026

 

HYPE payable

 

$

-