Grayscale Files Amended S-1 for Hyperliquid Staking ETF with 0.29% Fee, Undercutting Rivals

Grayscale has submitted an amended S-1 registration statement for its Hyperliquid Staking ETF, ticker HYPG. The updated filing sets the fund’s annual management fee at 0.29%, undercutting existing competitors in the niche.

By comparison, Bitwise’s BHYP waives its fee for the first month before charging 0.34%, while 21Shares’ THYP carries a flat 0.30% fee. Grayscale’s aggressive pricing positions the product as the cheapest among Hyperliquid-focused ETFs. Bloomberg ETF analyst James Seyffart commented that the fund could begin trading as early as this week, pending regulatory clearance. If launched, HYPG would be the third ETF to offer exposure to the Hyperliquid ecosystem, following BHYP and THYP.