Grayscale’s new Hyperliquid ETF is expected to start trading this week. The company recently filed updates, including its stock ticker symbol and the fee it will charge for managing the fund.
Summary
- Grayscale has added a 0.29% fee and the HYPG ticker to its Hyperliquid ETF filing, with Bloomberg analyst James Seyffart expecting a launch as soon as this week.
- The proposed fund would become the third U.S. listed Hyperliquid ETF and would charge less than rival products from 21Shares and Bitwise.
According to Bloomberg Intelligence ETF analyst James Seyffart, the launch of the product seems very close, and he anticipates trading will start this week following Grayscale’s recent submission of its sixth amendment for the fund.
As a researcher following the ETF space, I’m tracking some exciting developments. It looks like Grayscale is very close to launching their Hyperliquid ETF! They just filed amendment number 6, and we now know the ticker symbol will be $HYPG. The expense ratio is set at 0.29%, and it appears to be directly tied to the Hyperliquid protocol – indicated by ‘hyperliquid:native’.
— James Seyffart (@JSeyff) June 1, 2026
The latest documents reveal the ETF will trade on the market using the symbol HYPG and have a 0.29% annual fee. If regulators approve it, this fund will be the third U.S. ETF based on Hyperliquid’s HYPE token, alongside similar products already offered by 21Shares and Bitwise.
Competition is heating up among companies offering investment products for the rapidly expanding Hyperliquid market. Grayscale plans to charge lower fees than its competitors, undercutting both 21Shares’ THYP fund (at 0.30%) and Bitwise’s BHYP, which will eventually charge 0.34% after a temporary lower rate.
Grayscale prepares to enter a growing HYPE ETF market
Since 21Shares introduced THYP and TXXH – its leveraged fund – on Nasdaq in May, more people have been paying attention to regulated products from Hyperliquid.
As crypto.news previously covered, 21Shares’ THYP fund quickly gained over $5 million in assets after its launch. Eli Ndinga, 21Shares’ head of research, noted this showed strong investor demand for ongoing access to cryptocurrency markets.
Ndinga explained that Hyperliquid often responds to global events even before standard markets open, positioning it as a vital part of the 24/7 trading landscape.
ETFs focused on popular trends, often called “hype” investments, have seen significant interest from investors, with net inflows exceeding $140 million as of last month. Specifically, products from 21Shares and Bitwise have together attracted nearly this amount.
Grayscale plans for HYPG to earn rewards by staking its HYPE tokens, in addition to benefiting from any increase in the token’s price. While previous plans mentioned staking later on, depending on regulations and taxes, this latest filing officially names the fund as the Grayscale Hyperliquid Staking ETF.
Grayscale is in talks with Hyper Holdings Global LP about an initial investment deal worth around $115 million. This would involve approximately 2 million HYPE tokens, which would be converted into shares of the fund before it starts trading.
The ETF push comes as Hyperliquid continues to expand its presence in crypto derivatives markets.
Blockchain information reveals that the platform now consistently handles over $170 billion in trades each month, covering various types of assets. Hyperliquid is a trading exchange built on blockchain technology that allows users to profit from price changes without actually owning the assets themselves.
As HYPE has become more popular, demand for the token has increased quickly. On Monday, it hit a new peak of $75.3, and its total market value rose to around $16.7 billion, making it the tenth-largest cryptocurrency.
Grayscale is preparing to launch its product as interest in major crypto ETFs is currently declining. Bitcoin ETFs in the U.S. have experienced net outflows for the past ten trading days, totaling almost $3 billion in losses.
U.S. Ethereum ETFs have been experiencing outflows for the past two weeks, with more investors pulling money out than putting it in.
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2026-06-02 09:46