Crypto asset manager Grayscale could launch its Hyperliquid token-linked exchange-traded fund in the U.S. as soon as this week after changing its regulatory filing for the fund, an analyst says.
Bloomberg ETF analyst James Seyffart sent on Monday to
Grayscale improved filing he added that the ETF will trade under HYPG with a management fee of 0.29%, which Seyffart noted “slightly undercuts” rival Hyperliquid ETFs (HYPE) from 21Shares and Bitwise, which launched in mid-May.
Source: James Seyffart
21Shares ETF charges a fee of 0.3%, while Bitwise charges a fee of 0.34%. Collectively, the ETFs have seen nearly $140 million in net inflows since their launch as investors sought exposure to HYPE, the token for Layer 1 blockchain and perpetual futures platform Hyperliquid.
Hyperliquid has become one of the most popular trading platforms for cryptocurrency traders in recent months, thanks to blockchain technology data showing that it now consistently delivers over $170 billion in monthly trading volume across a wide range of asset classes.
Grayscale’s HYPG is also trying to follow 21Shares and Bitwise by going HYPE for yield, an offering that asset managers have added to similar cryptocurrency ETFs to attract investors.
Related: Hyperliquid launches markets for predicting real-world events
Hyperliquid ETFs helped press On Monday, HYPE hit a modern all-time high of $75.3.
As a result, its market capitalization increased to $16.7 billion, making it the 10th largest cryptocurrency by market value.
Grayscale’s potential launch comes after U.S.-listed Bitcoin (BTC) ETFs experienced net outflows over 10 consecutive trading days, resulting in a loss of nearly $3 billion.
US Ether ETFs (ETH) are also seeing a 14-day streak of net outflows as investors reduce positions faster than fresh capital flows into the market.
Warehouse: HYPE Chases $100 Target, ETH May Fall Below $1,800: Market Moves
