Grayscale has filed an S-1 amendment for its Hyperliquid Staking ETF, proposing a management fee of 0.29% under the ticker HYPG, according to Odaily. This rate undercuts competitors Bitwise and 21Shares, who have already launched similar products.
Specifically, Bitwise's BHYP offers a 0% fee for the first month, then increases to 0.34%. 21Shares' THYP charges a flat 0.30%. If approved, HYPG would be the lowest-cost Hyperliquid ETF available, potentially attracting cost-conscious investors.
Bloomberg ETF analyst James Seyffart expects the fund could begin trading as soon as this week. Upon launch, HYPG would become the third Hyperliquid-themed ETF on the market, following BHYP and THYP. The aggressive fee strategy signals Grayscale's strong push into the Hyperliquid ecosystem and intensifies competition in the crypto ETF space.