The Greyscale Hyperliquid ETF may launch this week.
Crypto asset manager Grayscale may launch an exchange-traded fund linked to the Hyperliquid token in the US after updating its regulatory filing for the fund this week, an analyst said.
Bloomberg ETF analyst James Seifert wrote to X on Monday that the launch of the grayscale ETF was “likely to happen soon” and that he was “expecting it to start this week” after the company updated the fund's listing for the sixth time, adding its features and fees.
Greyscale's updated filing added that the ETF trades with a 0.29% management fee under the ticker HYPG, which Seifert said is a “slight cut” from the 21Shares and Bitwise rival HyperLiquid ( HYPE ) ETFs launched in mid-May.
Source: James Seifert.
21Shares ETF has a fee of 0.3% while Bitwise charges 0.34%. Together, the ETFs generated nearly $140 million in net inflows as investors sought exposure to the HYPE.
Hyperliquid has become one of the most popular trading platforms for crypto traders in recent months, with blockchain data showing that it now consistently facilitates more than $170 billion in monthly trades across multiple asset classes.
Greyscale is looking to follow 21Shares and Bitwise in acquiring a HYPG product, which wealth managers have added to the same crypto ETF to attract investors.
Related: Hyperliquid launches prediction markets for real-world events
Hyperliquid ETFs helped push HYPE to a high of $75.30 on Monday.
As a result, its market capitalization rose to $16.7 billion, making it the 10th largest cryptocurrency by market value.
Greyscale's potential launch comes as US-listed bitcoin (BTC) ETFs have recorded 10 consecutive trading days of net inflows, bleeding nearly $3 billion.
US Ether (ETH) ETFs are also on a 14-day net outflow, as investors are shrinking faster than fresh capital is flowing into the market.
Magazine: HYPE Chases $100 Target, ETH May Drop Below $1800: Market Actions
