Grayscale set a 0.29% fee for its planned Hyperliquid ETF, undercutting competing HYPE funds ahead of launch.
Hyperliquid News
Grayscale has set a sponsor fee of 0.29% for its planned Hyperliquid exchange-traded fund (ETF). The fee comes in below the rival funds already trading.
The firm filed an amendment to its S-1 registration statement with the Securities and Exchange Commission (SEC) on June 1. The update added the new fee and a ticker symbol, HYPG, for the Grayscale Hyperliquid Staking ETF.
The fund would be the third Hyperliquid ETF to launch. Bitwise's BHYP charges nothing for its first month, then 0.34%, while 21Shares' THYP carries a 0.30% fee.
Bloomberg Intelligence ETF analyst James Seyffart wrote on X on June 1 that a launch looked close. He said he expected Grayscale to bring the fund to market within the week.
Third Hyperliquid ETF Nears Launch
Hyperliquid is a decentralized derivatives exchange that lets traders buy and sell perpetual futures directly on-chain. Its native token, $HYPE, ranks as the tenth-largest by market cap at $16.1 billion, according to The Block's price data.
Perpetual futures, known as perps, are contracts with no expiration date. They let traders bet on an asset's price without owning it.
The contracts have grown popular in crypto trading, and regulators have moved in. The Commodity Futures Trading Commission (CFTC) cleared the way last week for firms such as Coinbase and Kalshi to offer perpetuals products in the US for the first time.
Demand for Hyperliquid-linked funds hit a record last month. The products drew more than $132 million in cumulative net inflows.
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