Grayscale's HYPG ETF Debuts on Nasdaq with Lowest Fee

Grayscale introduced its Hyperliquid [HYPE] Staking ETF under the ticker HYPG on June 3rd, the asset manager announced. The fund, which offers exposure to HYPE, the native token of the Hyperliquid protocol, has begun trading on Nasdaq. HYPG is designed to capture staking rewards by actively participating in the network's staking process.

HYPG enters the market as the cheapest way for investors to access HYPE through an exchange-traded product, launching with a 0.29% sponsor fee — the lowest among U.S. Hyperliquid ETPs. For context, 21Shares' THYP went live on Nasdaq on May 12th with a 0.30% expense ratio. Three days later, Bitwise's BHYP began trading on the New York Stock Exchange (NYSE) with a promotional 0% fee for the first month, set to rise to 0.34% thereafter. Normalized, Grayscale's 0.29% currently undercuts both competitors.

Eli Ndinga, Global Head of Research at 21Shares, wrote in an email to AMBCrypto: "The velocity we are seeing in US Hyperliquid ETFs, which have pulled in over $160 million in net inflows since launching, proves that Wall Street recognizes Hyperliquid as a decentralized financial powerhouse rather than just another speculative token."

Meanwhile, data from SoSo values shows the HYPE ETF basket has reached $192.01 million. On June 3rd, the last recorded daily net inflow came in at $2.99 million, coinciding with a 0.58% daily price bump that put HYPE at $72.79 at the time of publishing. RSI and MACD indicators continue to validate the bullish sentiment. HYPE may surpass the $100 mark by year's end, potentially eclipsing TRON's market cap.

Ndinga added that Hyperliquid has bucked the trend of sustained Bitcoin [BTC] and Ethereum [ETH] outflows by routing over $170 billion in monthly volume across spot, perpetuals, and tokenized equities — a figure that would make most TradFi desks quietly put down their coffee.

AMBCrypto also reported that Hyperliquid leads multinational corporations in revenue-to-employee ratio, outperforming second-place Robinhood by 32x with $59.65 million in revenue per employee. Apparently, lean headcount is back in fashion.