Grayscale Nears Launch of Hyperliquid Staking ETF with 0.29% Fee

Grayscale Investments filed a sixth amended S‑1 registration with the U.S. Securities and Exchange Commission detailing its planned Hyperliquid Staking ETF. The fund will trade under the ticker HYPG, charge a management fee of 0.29%, and seed the vehicle with roughly 2 million HYPE tokens valued at about $144 million.

The low expense ratio undercuts competing products such as Bitwise’s BHYP (0.34%) and 21Shares’ THYP (0.30%). Analysts expect the filing to clear final regulatory hurdles within days, paving the way for the ETF to begin trading imminently.

At the same time, Hyperliquid’s native HYPE token surged past $73, lifting the chain into the top‑10 cryptocurrencies by market cap. Open interest on Hyperliquid futures reached a record $3.5 billion, even as broader crypto investment products saw outflows of $1.67 billion in the prior week.