What is Grayscale's new Hyperliquid ETF?

Grayscale is preparing to launch an exchange-traded fund that provides exposure to Hyperliquid's HYPE token. The ETF is expected to trade under the ticker HYPG and could launch as soon as this week, according to Bloomberg ETF analyst James Seyffart.

Why is Grayscale's Hyperliquid ETF attracting attention?

The ETF would give traditional investors regulated exposure to HYPE without requiring direct ownership of cryptocurrency. It also arrives as Hyperliquid becomes one of the fastest-growing crypto trading platforms in the market.

How does Grayscale's Hyperliquid ETF compare with rival funds?

The ETF will compete directly with Hyperliquid funds launched by 21Shares and Bitwise in May. Grayscale's lower fee structure may help attract investors seeking cheaper access to HYPE exposure.

How much investor demand have Hyperliquid ETFs generated so far?

The Hyperliquid ETFs launched by 21Shares and Bitwise have collectively attracted nearly $140 million in net inflows since launch. This suggests growing institutional and retail interest in HYPE-linked investment products.

What is Hyperliquid and why is it gaining popularity?

Hyperliquid is a Layer-1 blockchain and decentralised perpetual futures trading platform. The network now facilitates more than $170 billion in monthly trading volume, making it one of the largest crypto trading venues.

Why has HYPE reached a new all-time high?

Growing demand for Hyperliquid-related investment products and strong platform activity have helped push HYPE to a record high of $75.30. Investor interest has also increased as new ETF products make exposure easier to access.

What is HYPE's current market position?

HYPE's market capitalisation has climbed to approximately $16.7 billion, making it the 10th-largest cryptocurrency by market value. The rapid growth highlights Hyperliquid's emergence as a major player in digital asset markets.

Image for illustrative purposes only. Not a real photo.

Grayscale nears Hyperliquid ETF launch with lower fee

Q: What fee will Grayscale charge for the Hyperliquid ETF?

Grayscale plans to charge a 0.29% management fee. This is slightly lower than the 0.30% fee charged by 21Shares and the 0.34% fee charged by Bitwise, potentially making Grayscale's product more competitive.

Written by Mahathir BayenaPublished Jun 2, 2026, 5:41 AM

Grayscale is expected to launch its Hyperliquid exchange-traded fund as early as this week after updating regulatory filings to include the fund's ticker and management fee, according to Bloomberg ETF analyst James Seyffart.

The crypto asset manager's latest filing shows the ETF will trade under the ticker HYPG and charge a 0.29% management fee, slightly below the 0.30% fee charged by 21Shares and the 0.34% fee charged by Bitwise.

“Likely imminent” and “expecting the launch this week,”

Seyffart wrote on X following Grayscale's sixth amendment to the fund's registration documents.

The proposed launch follows the debut of Hyperliquid ETFs from 21Shares and Bitwise in mid-May, which have collectively attracted nearly $140 million in net inflows as investors seek exposure to Hyperliquid's HYPE token.

Hyperliquid has emerged as one of the fastest-growing crypto trading platforms, consistently processing more than $170 billion in monthly trading volume across multiple asset classes, according to blockchain data.

Like its competitors, Grayscale's ETF plans to stake HYPE tokens to generate yield, a feature increasingly being used by crypto fund providers to attract investor capital.

The growing interest in Hyperliquid-linked investment products has helped lift HYPE to a record high of $75.30 and a market capitalisation of $16.7 billion, even as US-listed bitcoin and ether ETFs continue to experience sustained capital outflows.

At the time of reporting, Hyperliquid price was $73.17.