Crypto asset manager Grayscale could launch its Hyperliquid token-linked exchange-traded fund in the US as early as this week after amending regulatory filings for the fund, an analyst says.
Bloomberg ETF analyst James Seyffart published to X on Monday that the launch of Grayscale’s ETF is “likely imminent” and that it “expects to launch this week” after the company amended the fund’s filing for the sixth time to add its ticker and fee.
Grayscale has been modified submission added that the ETF will trade under the ticker symbol HYPG with a 0.29% management fee, which Seyffart noted “slightly undercuts” rival Hyperliquid (HYPE) ETFs from 21Shares and Bitwise that launched in mid-May.
Source: James Seyffart
The 21Shares ETF has a fee of 0.3%, while Bitwise charges 0.34%. Collectively, the ETFs have seen nearly $140 million in net inflows since launch as investors sought exposure to HYPE, the Layer 1 blockchain token and perpetual futures platform, Hyperliquid.
Hyperliquid has become one of the most popular trading platforms for crypto traders, with blockchain, in recent months data showing that it now consistently facilitates more than $170 billion in monthly trading volume across a wide range of asset classes.
Grayscale’s HYPG also seeks to follow 21Shares and Bitwise in investing HYPE to earn yield, an offering that asset managers have added to similar crypto ETFs to attract investors.
Related: Hyperliquid powers prediction markets for real-world events
Hyperliquid ETFs helped push HYPE to a new all-time high of $75.3 on Monday.
Its market capitalization rose to $16.7 billion as a result, making it the 10th largest cryptocurrency by market value.
Grayscale’s potential launch comes after US-listed Bitcoin (BTC) ETFs posted net outflows for 10 consecutive trading days, bleeding nearly $3 billion.
US Ether (ETH) ETFs are also on a 14-day streak of net outflows, as investors reduce positions faster than fresh capital flows into the market.
Magazine: HYPE Chases $100 Target, ETH May Fall Below $1800: Market Moves
