Grayscale has moved closer to launching its Hyperliquid Staking ETF after filing an amended S-1 registration statement with the Securities and Exchange Commission on Monday. The update confirms a 0.29% sponsor fee and the ticker HYPG, positioning the fund for a possible market debut this week. Bloomberg Intelligence ETF analyst James Seyffart called the launch "imminent" after the sixth amendment was filed.
The 0.29% fee gives Grayscale a narrow pricing edge over rival HYPE ETFs. Bitwise charges 0.34% after its first-month fee waiver, while 21Shares lists its THYP with a 0.30% fee. This fee competition comes as Hyperliquid-linked ETFs have already drawn strong investor interest. Last month, HYPE funds recorded more than $132 million in cumulative net inflows, demonstrating clear demand for regulated exposure to the token.
Hyperliquid operates a decentralized derivatives exchange for on-chain perpetual futures trading. Its native token, HYPE, ranks among the top ten crypto assets by market capitalization, with a value around $16.1 billion. The ETF launch follows recent regulatory progress: last week, the Commodity Futures Trading Commission opened the door for crypto-linked derivatives products, allowing major firms like Coinbase and Kalshi to expand into such markets. Grayscale's HYPG will be the third U.S.-listed Hyperliquid ETF, after 21Shares and Bitwise.
