The Grayscale Hyperliquid [HYPE] Staking ETF, coded HYPG, was introduced on the 3rd of June, according to an announcement made by asset manager Grayscale.
That said, the ETF, which offers exposure to HYPE, the native token of the Hyperliquid protocol, has started trading on Nasdaq.
Furthermore, this HYPG was created to obtain staking rewards that are produced by actively participating in the network’s staking process.
How is Grayscale’s HYPG different from other HYPE ETFs?
Surprisingly, HYPG is the most affordable way for investors to gain exposure to HYPE through an exchange-traded product because it launches with the lowest sponsor fee of 0.29% among U.S. Hyperliquid ETPs.
For context, on the 12th of May, the Hyperliquid ETF from 21Shares, THYP, with an expense ratio of 0.30%, went live on the Nasdaq.
Three days later, Bitwise’s BHYP went live on the New York Stock Exchange (NYSE) with a promotional 0% fee for the first month, which will eventually increase to 0.34%. Hence, Grayscale’s fee of 0.29% is currently the lowest of the three options when normalized.
Remarking on the same, Eli Ndinga, the Global Head of Research at 21Shares, wrote in an email sent to AMBCrypto,
The velocity we are seeing in US Hyperliquid ETFs, which have pulled in over $160 million in net inflows since launching, proves that Wall Street recognizes Hyperliquid as a decentralized financial powerhouse rather than just another speculative token.
HYPE ETF net flow analysis
Meanwhile, according to data from SoSo values, the HYPE ETF has now reached $192.01 million. On the 3rd of June, the last recorded daily net inflow was $2.99 million.
This occurred as HYPE’s price increased by 0.58% over the previous day to $72.79 at the time of publishing. The persistent bullish sentiment surrounding the altcoin was also validated by the RSI and the MACD indicator.
Adding to this, Ndinga added,
HYPE may surpass the $100 mark by the end of the year, potentially valuing it higher than TRON.
He continued by explaining that Hyperliquid has defied the trend of long redemptions of Bitcoin [BTC] and Ethereum [ETH] by routing over $170 billion in monthly volume across spot, perpetuals, and tokenized equities.
Actually, AMBCrypto also revealed that, out of all the multinational corporations, Hyperliquid had the highest revenue-to-employee ratio. It outperformed second-place Robinhood by 32 times, with $59.65 million in revenue per employee.
Final Summary
- Grayscale’s HYPE ETF went live on the 3rd of June with a fee of 0.29%, the lowest in comparison to others.
- The price action of the HYPE also echoed bullish sentiments, with the 21 Shares’ exec predicting that HYPE will surpass the $100 mark.
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