Analyst: Grayscale's HYPE ETF Launch Appears Imminent Following Competitive Fee Disclosure
An analyst suggests that Grayscale's exchange-traded fund for Hyperliquid is set for an imminent debut following the firm's disclosure of ticker symbol and competitive fee structure in its latest amended filing with regulators.
According to an analyst's assessment, Grayscale, the digital asset management firm, may introduce its Hyperliquid token-linked exchange-traded fund to the United States market as early as this week following the submission of an amended regulatory document for the investment product.
In a post shared on X this Monday, James Seyffart, an ETF analyst at Bloomberg, indicated that Grayscale's ETF launch was "likely imminent" and stated he was "expecting the launch this week" following the firm's sixth amendment to the fund's regulatory filing, which now includes its designated ticker symbol and management fee structure.
According to Grayscale's updated filing, the exchange-traded fund will be listed under the ticker symbol HYPG and will carry a management fee of 0.29%, a rate that Seyffart observed "slightly undercuts" competing Hyperliquid (HYPE) ETFs offered by 21Shares and Bitwise, both of which debuted in mid-May.
The 21Shares ETF carries a management fee of 0.3%, whereas Bitwise's product charges 0.34%. Combined, these exchange-traded funds have attracted nearly $140 million in net inflows from their launch date, as market participants sought access to HYPE, which serves as the native token for the layer 1 blockchain and perpetual futures trading platform known as Hyperliquid.
Grayscale's HYPG product is also planning to replicate the approach taken by 21Shares and Bitwise through staking HYPE tokens to generate yield, a feature that investment managers have incorporated into comparable cryptocurrency ETFs as a strategy to draw in investors.
The introduction of the Hyperliquid ETFs has contributed to HYPE achieving a fresh all-time high price of $75.3 on Monday.
The token's market capitalization has climbed to $16.7 billion as a consequence, positioning it as the 10th largest cryptocurrency measured by market value.
The potential debut of Grayscale's product arrives during a period when Bitcoin (BTC) ETFs listed in the United States have experienced net outflows spanning more than 10 consecutive trading sessions, losing nearly $3 billion in total.
Meanwhile, US Ether (ETH) ETFs are experiencing their own 14-day net outflow streak, with investors withdrawing positions at a faster pace than new capital is entering the market.