Grayscale Unveils Low-Fee Hyperliquid ETF Amid Rising Competition
Grayscale launches lowest-fee U.S. Hyperliquid ETF as competition heats up around HYPE

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Grayscale has launched the Grayscale Hyperliquid Staking ETF (HYPG) on Nasdaq with a 0.29% sponsor fee, the lowest among U.S. Hyperliquid ETFs. The fund aims to provide exposure to the HYPE token while generating returns through staking, reflecting growing institutional interest in decentralized finance.
- 01The Grayscale Hyperliquid Staking ETF (HYPG) charges a 0.29% sponsor fee, undercutting competitors 21Shares and Bitwise.
- 02HYPG aims to offer exposure to the HYPE token and generate additional returns through staking, with historical rewards averaging 2.2% annually.
- 03Hyperliquid, the protocol behind HYPE, generated approximately $857 million in revenue in 2025, indicating strong market interest.
- 04The fund's launch signifies a shift in institutional focus towards crypto-native infrastructure projects beyond traditional assets like Bitcoin and Ether.
- 05Grayscale's senior vice president Krista Lynch emphasized the unique position of Hyperliquid in the digital asset landscape.
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Grayscale has officially launched the Grayscale Hyperliquid Staking ETF (HYPG) on Nasdaq, featuring a competitive 0.29% sponsor fee, the lowest among U.S. Hyperliquid ETFs. This new fund aims to provide investors with exposure to the HYPE token while also generating additional returns through staking, which historically averages around 2.2% annually. The introduction of HYPG comes amid increasing institutional interest in Hyperliquid, a decentralized finance protocol that has expanded from perpetual futures trading to a broader blockchain ecosystem. In 2025, Hyperliquid reportedly generated about $857 million in revenue, highlighting its potential as a key player in on-chain market infrastructure. Grayscale's launch of HYPG reflects a growing trend where institutional investors are looking beyond traditional cryptocurrencies like Bitcoin and Ether, seeking opportunities in innovative financial products that resemble established financial networks. Krista Lynch, Grayscale's senior vice president of capital markets, noted the differentiated nature of Hyperliquid in the digital asset space.
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