Grayscale launched the Hyperliquid Staking ETF (HYPG) on Nasdaq. This new offering competes directly with existing products from Bitwise and 21Shares.
Grayscale established a gross management fee of 0.29% for the fund. This pricing represents the lowest fee currently available among U.S. Hyperliquid ETF products.
The debut reflects rising institutional demand for the native HYPE token. Hyperliquid Strategies (PURR) holds HYPE as its primary underlying asset.
The HYPE token reached an all-time high of $75.51 on June 2. The asset recently experienced a price pullback following broader weakness in the cryptocurrency market.