Grayscale May Launch Hyperliquid Token ETF This Week in US
Quick Look
- Crypto asset manager Grayscale may launch its Hyperliquid token ETF (HYPG) in the US this week, according to analyst James Seyffart.
- The ETF's fee of 0.29% undercuts rivals, and the token has seen significant trading volume and price appreciation.
AI-generated summary
Why It Matters
Grayscale may launch an ETF for the Hyperliquid token (HYPG) in the US this week. Analyst James Seyffart noted the amended filing and competitive fee structure. The Hyperliquid token has seen significant trading volume and price increases.
Crypto asset manager Grayscale could launch its exchange-traded fund tied to the Hyperliquid token in the US as soon as this week after it amended a regulatory filing for the fund, an analyst says.
Bloomberg ETF analyst James Seyffart posted to X on Monday that the launch of Grayscale’s ETF was “likely imminent” and was “expecting the launch this week” after the company amended the fund’s filing for the sixth time to add its ticker and fee.
Grayscale’s amended filing added that the ETF would trade under the ticker HYPG with a 0.29% management fee, which Seyffart noted “slightly undercuts” rival Hyperliquid (HYPE) ETFs from 21Shares and Bitwise that launched in mid-May.
Source: James Seyffart
21Shares ETF has a fee of 0.3%, while Bitwise charges 0.34%. Together, the ETFs have recorded nearly $140 million in net inflows since launch as investors looked to get exposure to HYPE, the token for the layer 1 blockchain and perpetual futures platform, Hyperliquid.
Hyperliquid has become one of the most popular trading platforms for crypto traders in recent months, with blockchain data showing that it now consistently facilitates over $170 billion in monthly trading volume across a broad range of asset classes.
Grayscale’s HYPG is also seeking to follow 21Shares and Bitwise by staking HYPE to earn yield, an offering that asset managers have added to similar crypto ETFs to attract investors.
Related: Hyperliquid launches prediction markets for real-world events
The Hyperliquid ETFs have helped push HYPE to a new all-time high of $75.3 on Monday.
Its market capitalization has risen to $16.7 billion as a result, making it the 10th largest cryptocurrency by market value.
Grayscale’s potential launch comes as US-listed Bitcoin (BTC) ETFs have recorded net outflows over 10 consecutive trading days, bleeding nearly $3 billion.
US Ether (ETH) ETFs are also on a 14-day net outflow streak, as investors are reducing positions faster than fresh capital is flowing into the market.
What to Watch
AI outlook — possibilities, not facts
Grayscale will launch its Hyperliquid token ETF this week.
Likely · Within days
Open Questions
- Will Grayscale officially announce the launch this week?
- What will be the exact impact of Grayscale's ETF on HYPE's price and market cap?
- How will other crypto ETFs react to Grayscale's competitive fee?
- What is the long-term outlook for Hyperliquid as a platform?
