Grayscale Investments has launched the Grayscale Hyperliquid Staking ETF (HYPG) on Nasdaq. This is the first US-listed Hyperliquid product that offers both direct HYPE token exposure and staking rewards. The ETF started trading on June 3 with a 0.29% management fee, making it the lowest-cost Hyperliquid ETF in the US.
The fund joins a crowded market for crypto-based ETFs. Competing Hyperliquid funds from Bitwise and 21Shares are already available, but Grayscale sets HYPG apart with its lower price and staking rewards.
Unlike regular spot crypto ETFs that only track prices, HYPG aims to earn extra returns through Hyperliquid’s staking system. Grayscale says the fund’s staking rewards could boost overall performance after fees and expenses.
The launch comes as more institutions show interest in Hyperliquid. The protocol has become a top project in decentralized finance, thanks to strong trading, rising revenues, and more professional traders using it.
Another key feature of the ETF is its custody setup. Grayscale chose Anchorage Digital Bank as the main custodian instead of Coinbase Custody, which is a big change from what many US crypto funds use. Anchorage’s federal charter may offer extra regulatory benefits.
Industry experts see this launch as more proof that institutions are accepting digital assets beyond Bitcoin and Ethereum. As ETF competition grows, lower fees, staking rewards, and how funds are managed are becoming important ways to stand out.
For investors who want regulated access to Hyperliquid, HYPG offers a new choice that combines token ownership with staking income. This could make it one of the more appealing products in the growing altcoin ETF market.
$HYPE x @nasdaq in Times Square
Grayscale Hyperliquid Staking ETF ($HYPG) is now available in brokerage accounts.
Hyperliquid pic.twitter.com/YjwhJVutmk
— Grayscale (@Grayscale) June 3, 2026
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