Crypto asset manager Grayscale is expected to launch an exchange-traded fund (ETF) linked to the Hyperliquid token in the U.S. as early as this week. According to Bloomberg analyst James Seyffart, the company has filed its sixth amendment to the regulatory documents, setting the fund's ticker and commission fees. This is reported by Cointelegraph.com reporting .
The new ETF will trade under the ticker HYPG with a management fee of 0.29%. This is lower than the Hyperliquid (HYPE) funds from competitors like 21Shares (0.3%) and Bitwise (0.34%), which were launched in mid-May. So far, these competing funds have managed to attract nearly $140 million in net investment from investors.
The Hyperliquid platform has become one of the most popular trading venues among crypto traders in recent months. According to blockchain data, the platform's monthly trading volume consistently exceeds $170 billion. Like its competitors, Grayscale aims to attract more investors by offering the opportunity to earn additional income through staking HYPE tokens.
Against the backdrop of the success of new ETFs, the price of HYPE reached a record high of $75.3 on Monday. As a result, its market capitalization reached $16.7 billion, placing it in the top ten largest cryptocurrencies. This comes at a time when funds are flowing out of Bitcoin (BTC) and Ethereum (ETH) ETFs.
Read “Zamin” on Telegram!
