Grayscale Hyperliquid ETF Near Launch as 0.29% Fee Undercuts Rivals

Grayscale is close to launching its Hyperliquid (HYPE) exchange traded fund in the United States after updating its regulatory filing with key details including ticker and management fee, according to ETF analyst commentary.

Grayscale Amends Filing With Lower ETF Fee Structure

The revised filing shows the ETF will trade under the ticker HYPG and carry a 0.29% management fee. This positions Grayscale slightly below competing products from 21Shares and Bitwise, which charge 0.3% and 0.34% respectively.

Analyst James Seyffart noted that the latest amendment suggests the launch is “likely imminent,” adding that the ETF could begin trading as soon as this week following the sixth update to its submission.

Competition Builds in Hyperliquid ETF Market

Both the 21Shares and Bitwise Hyperliquid ETFs, launched in mid-May, have already attracted nearly $140 million in combined net inflows. Investor interest has been driven by exposure to HYPE, the native token of the Hyperliquid layer-1 blockchain and perpetual futures trading platform.

Market data shows Hyperliquid now processes more than $170 billion in monthly trading volume across different asset types, strengthening demand for related investment products.

Staking Feature and Market Performance

Grayscale’s proposed ETF will also include staking of HYPE tokens to generate yield, matching features offered by competing funds. This structure has become a key attraction for crypto ETFs aiming to draw long-term investors.

Following strong ETF demand, HYPE recently reached a record high of $75.3, lifting its total market capitalization to around $16.7 billion and ranking it among the top ten cryptocurrencies.

The development comes as broader crypto ETFs face mixed flows, with Bitcoin and Ethereum funds recording multi-day net outflows while investors shift capital across digital asset products.