Grayscale Launches Hyperliquid Staking ETF with Lowest Fee at 0.29%
Grayscale launched the Hyperliquid Staking ETF (HYPG) on Nasdaq with a 0.29% sponsor fee, undercutting rivals 21Shares (0.30%) and Bitwise (0.34% after promo). The fund seeks exposure to HYPE while generating additional returns through staking, with historical staking rewards averaging about 2.2% annually. Hyperliquid, a decentralized perpetual futures exchange expanding into broader blockchain infrastructure, generated approximately $857 million in revenue in 2025, with 99% of protocol fees directed toward token buybacks. The launch signals growing institutional interest in crypto-native infrastructure projects beyond bitcoin and ether. HYPG is the first ETF to offer staking rewards on Hyperliquid's network, differentiating it from traditional crypto ETFs.
Key facts
- Grayscale Hyperliquid Staking ETF (HYPG) launched on Nasdaq with 0.29% fee.
- Fee undercuts 21Shares (0.30%) and Bitwise (0.34% after promo).
- Fund generates returns via staking, with ~2.2% annual staking rewards.
- Hyperliquid generated $857M revenue in 2025; 99% of fees for token buybacks.
- Launch reflects institutional demand beyond bitcoin and ether ETFs.