The competition for Hyperliquid ETFs in the U.S. market is intensifying as Grayscale Investments has submitted an amended registration for its proposed Hyperliquid ETF, which is expected to trade under the ticker GHYP. This move comes as the token HYPE, the native asset of the Hyperliquid Network, trades around $55, down from its peak of over $62. The proposed fund aims to differentiate itself by potentially including a staking feature, allowing investors to earn HYPE tokens through staking, which may enhance its attractiveness in a crowded crypto ETF landscape. Other players, such as Bitwise Asset Management and 21Shares, have also launched their Hyperliquid ETFs, indicating growing interest in altcoin-focused investment products. Grayscale's fund will be managed by Anchorage Digital Bank and Bank of New York Mellon, with regulatory discussions ongoing. Analysts predict that HYPE could rise above $100, suggesting a bullish outlook for the token and the Hyperliquid ETF sector.