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New Grayscale HYPE Fund May Enter the Market
Grayscale may soon launch a new exchange-traded fund (ETF) in the United States linked to the Hyperliquid ($HYPE) token. This possibility emerged after recent updates to the company's registration documents, which caught the attention of Bloomberg ETF analyst James Seyffart.
In the updated filing, the company revealed the future fund's ticker symbol — HYPG — along with a management fee of 0.29%. According to industry experts, the disclosure of such details typically indicates that a product is nearing market launch. The fee is slightly lower than those charged by competitors. For comparison, a similar ETF from 21Shares charges 0.30%, while the Bitwise product charges 0.34%.
Investor interest in Hyperliquid-based investment products continues to grow. The 21Shares and Bitwise funds launched in May have already attracted approximately $140 million in net inflows, highlighting strong demand for regulated exposure to $HYPE.
Hyperliquid's popularity is largely driven by the rapid growth of its perpetual futures trading platform. The project operates on its own Layer 1 blockchain and has become one of the largest participants in the decentralized derivatives market. According to industry statistics, the platform's monthly trading volume exceeds $170 billion.
Like other issuers of similar products, Grayscale plans to utilize $HYPE staking to generate additional yield. This practice is becoming increasingly common among cryptocurrency funds because it enhances the attractiveness of investment products for investors.
Growing interest in the Hyperliquid ecosystem has also had a positive impact on the token's price. Recently, $HYPE reached a new all-time high of $75.3. As a result, the asset's market capitalization increased to approximately $16.7 billion, allowing it to enter the top 10 largest cryptocurrencies in the world by market capitalization.
See also: "Bitcoin ETFs Lead Weekly Losses as $1.42 Billion Flows Out While Altcoin ETFs Attract Capital"
