Grayscale Files Hyperliquid Staking ETF with 0.29% Fee, Undercutting Bitwise and 21Shares

Grayscale has submitted an amended S-1 filing for its Hyperliquid Staking ETF, proposing a management fee of 0.29% and the ticker symbol HYPG. The fee structure undercuts existing Hyperliquid-related ETFs from Bitwise and 21Shares, positioning Grayscale as a low-cost competitor in this emerging crypto ETF segment.

Bitwise’s BHYP charges a promotional 0% fee for the first month, after which it rises to 0.34%. Meanwhile, 21Shares’ THYP comes with a 0.30% fee. Bloomberg ETF analyst James Seyffart commented that Grayscale’s fund could launch as soon as this week. If launched, HYPG would become the third Hyperliquid-linked ETF on the market, further expanding institutional access to the Hyperliquid ecosystem.