Nikolas Sargeant
TL;DR
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Grayscale has filed with the Securities and Exchange Commission an amendment to its S-1 registration statement for its Grayscale Hyperliquid Staking ETF.
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The ETF is expected to go live this week.
Grayscale Moves Closer to Launch With New Filing
Grayscale Investments is preparing to launch its own Hyperliquid exchange-traded fund, filing an amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Monday.
The updated filing introduces a 0.29% sponsor fee and confirms the ETF’s ticker symbol as HYPG, signaling the product is nearing launch.
The Grayscale ETF will enter a rapidly expanding niche market focused on Hyperliquid exposure, joining two competing funds already preparing to launch.
Bitwise Asset Management, with its BHYP Hyperliquid ETF, offers a 0% introductory fee that later rises to 0.34%, and 21Shares, with its THYP ETF, carries a 0.30% fee.
Grayscale’s 0.29% fee positions it slightly below 21Shares while remaining competitive in a fee-sensitive ETF race.
Bloomberg Intelligence ETF analyst James Seyffart said in a post on X that the launch appears imminent.
When i say imminent i mean that i am expecting the launch this week. Here's an image for the fee. pic.twitter.com/4v3DMI4Aab
— James Seyffart (@JSeyff) June 1, 2026
Hyperliquid is a decentralized exchange specializing in perpetual futures trading, allowing users to speculate on asset prices without holding the underlying tokens.
Its native token, HYPE, ranks among the top digital assets with a market capitalization of approximately $16.1 billion.
Perpetual futures contracts—commonly known as “perps”—have become a dominant product in crypto derivatives markets due to their flexibility and lack of expiration dates.
Regulatory Environment Becomes More Supportive
Interest in crypto derivatives has also been influenced by shifting regulatory dynamics. The U.S. Commodity Futures Trading Commission (CFTC) recently signaled increased openness to perpetual-style contracts, paving the way for platforms such as Coinbase and prediction market operator Kalshi to explore new offerings.
Investor appetite for Hyperliquid-linked products has already been strong. Recent data shows that HYPE-focused funds have recorded more than $132 million in cumulative net inflows, reflecting growing demand for decentralized derivatives exposure through traditional financial products.
