Grayscale could launch its exchange-traded fund tied to the Hyperliquid token as soon as this week after amending its regulatory filing. Bloomberg ETF analyst James Seyffart said the launch is 'likely imminent' following the addition of the ticker HYPG and a 0.29% management fee.
The fee 'slightly undercuts' competitors 21Shares at 0.3% and Bitwise at 0.34%. The existing HYPE ETFs have attracted nearly $140 million in net inflows since mid-May.
Hyperliquid, a perpetual futures platform on a layer-1 blockchain, now handles over $170 billion in monthly trading volume. Grayscale's HYPG also plans to stake HYPE for yield, following the lead of 21Shares and Bitwise.
HYPE reached a new all-time high of $75.30 on Monday, pushing its market cap to $16.7 billion and making it the 10th largest cryptocurrency.