Grayscale has filed an amended S-1 for its Hyperliquid Staking ETF, proposing a management fee of 0.29% and assigning the ticker HYPG. This move positions the fund as the lowest-cost option among its peers in the emerging Hyperliquid ETF space.
The fee undercuts both Bitwise’s BHYP, which charges 0% for the first month and 0.34% thereafter, and 21Shares’ THYP, which carries a flat 0.30% management fee. With a 0.29% annual fee, Grayscale’s product offers a slight edge over THYP and a more meaningful discount compared to BHYP’s ongoing rate.
Bloomberg ETF analyst James Seyffart noted that the fund could begin trading as soon as this week, pending regulatory sign-off. If successful, HYPG would become the third ETF tied to Hyperliquid, following BHYP and THYP, further expanding competition in the staking-ETF segment.