{"url_path":"/sec/thyp/10-q/2026/item-1a","section_key":"item-1a","section_title":"Item 1A Risk Factors","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-06-24","source_url":"https://www.sec.gov/Archives/edgar/data/2090011/0001213900-26-071556-index.html","accession_number":"0001213900-26-071556","cik":"0002090011","ticker":"THYP","issuer_name":"21Shares Hyperliquid ETF","edgar_url":"https://www.sec.gov/Archives/edgar/data/2090011/0001213900-26-071556-index.html","primary_entity_key":"0002090011","primary_entity_name":"21Shares Hyperliquid ETF"},"word_count":137,"has_tables":true,"body_markdown":"Item\n1A. Risk Factors\n\n \n\nYou should carefully consider the risk factors discussed in “Risk\nFactors” in our Registration Statement on Form S-1 (333-291131) declared effective on May 11, 2026, and the prospectus contained\ntherein (the “Prospectus”), which could materially affect our business, financial condition or future results. There have\nbeen no material changes in our risk factors from those disclosed in the Prospectus.\n\n \n\nThe risks described in the Prospectus are not the only risks facing\nthe Trust. You should also consider any risks and uncertainties described under the caption “Risk Factors” in any applicable\nprospectus, prospectus supplement, registration statement or other document that we file with the SEC. Additional risks and uncertainties\nnot currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition\nand/or operating results."}