Grayscale submitted its sixth amendment for a Hyperliquid exchange-traded fund with a 0.29% management fee and HYPG ticker symbol, with launch potentially occurring as soon as this week. The filing undercuts competing Hyperliquid ETFs from 21Shares (0.30% fee) and Bitwise (0.34% fee) that launched in mid-May and attracted close to $140 million in net inflows. Hyperliquid processes more than $170 billion in monthly trading volume, with its HYPE token recently reaching an all-time high of $75.30 and pushing market capitalization to $18 billion, making it the tenth-largest cryptocurrency by market value.
Grayscale Sets 0.29% Fee for HYPG ETF
Grayscale's latest regulatory filing added key details including the fund's ticker symbol HYPG and management fee of 0.29%. According to Bloomberg ETF analyst James Seyffart, the filing suggests the launch is likely imminent. The 0.29% fee makes the ETF slightly cheaper than the 21Shares Hyperliquid ETF at 0.30% and the Bitwise Hyperliquid ETF at 0.34%. Since launching in mid-May, the 21Shares and Bitwise Hyperliquid ETFs collectively attracted close to $140 million in net inflows.
Hyperliquid Processes $170 Billion in Monthly Volume
The Layer-1 blockchain and perpetual futures trading platform now processes more than $170 billion in monthly trading volume, according to blockchain data. HYPE recently surged to a new all-time high of $75.30. The rally boosted Hyperliquid's market capitalization to approximately $18 billion, making it the tenth-largest cryptocurrency by market value.
ETF Includes Staking Component for Investors
Grayscale's proposed HYPG ETF is expected to include a staking component. By staking HYPE tokens held by the fund, Grayscale plans to generate additional yield for investors. This feature has become popular among crypto-focused ETF providers, with competing Hyperliquid ETFs from 21Shares and Bitwise also offering staking.
Bitcoin and Ethereum ETFs Record Consecutive Outflows
US-listed Bitcoin ETFs recorded net outflows for ten consecutive trading sessions. Spot Ethereum ETFs experienced a 14-day streak of net outflows. Despite these challenges in the broader cryptocurrency ETF market, the continued expansion of Hyperliquid investment products suggests investors are still willing to allocate capital toward blockchain ecosystems with strong growth potential.
FAQ
What fee does Grayscale's HYPE ETF charge?
Grayscale's HYPG ETF carries a management fee of 0.29%, making it slightly cheaper than competing Hyperliquid ETFs from 21Shares (0.30%) and Bitwise (0.34%).
What is Hyperliquid's monthly trading volume?
Hyperliquid processes more than $170 billion in monthly trading volume, according to blockchain data. The platform is a Layer-1 blockchain and perpetual futures trading platform.
What price did HYPE recently reach?
HYPE recently surged to a new all-time high of $75.30, pushing Hyperliquid's market capitalization to approximately $18 billion and making it the tenth-largest cryptocurrency by market value.
