Grayscale launches a U.S. exchange-traded fund linked to Hyperliquid (HYPE) on the Nasdaq, adding to growing competition among issuers offering similar exposure. According to reports, the fund is listed under the ticker “HYPG.” The sponsor fee is set at 0.29%, which sources describe as the lowest among U.S. Hyperliquid-linked ETF offerings at launch.
CoinDesk reports that Grayscale’s 0.29% sponsor fee undercuts rival products from other issuers, including Hyperliquid-linked ETFs from 21Shares and Bitwise, which charge higher fees. The Block similarly frames the move as Grayscale entering the market amid increasing ETF competition tied to HYPE, noting that the launch sets a new low for fees.
Both outlets indicate the ETF is designed to provide investors exposure tied to Hyperliquid through an ETF structure. The primary point of convergence across coverage is the fee level and the Nasdaq listing of Grayscale’s new HYPG fund, which is positioned as more cost-competitive than at least some existing alternatives in the U.S. market.
