INVESTING | Grayscale Launches HYPG: The Lowest-Fee Hyperliquid Staking ETF Hits Nasdaq

Grayscale Investments, the world’s largest digital asset-focused investment platform, officially launched its Grayscale Hyperliquid Staking ETF (ticker: HYPG) on Nasdaq on June 3, 2026. The new exchange-traded product provides investors with direct exposure to HYPE, the native token of the Hyperliquid protocol, combined with staking rewards in a single, regulated vehicle.
Key Features of HYPG

Lowest Gross Fee: At 0.29%, HYPG undercuts competitors like 21Shares’ THYP (0.30%) and Bitwise’s BHYP, positioning it as the most cost-efficient U.S. option for HYPE exposure.

Staking Yield: The fund captures on-chain staking rewards from the Hyperliquid protocol, currently yielding approximately 2.2–2.3% annually.

Passive Structure: HYPG is solely and passively invested in HYPE, aiming to reflect the token’s value (via an index price) minus fees and expenses.

Trading: Listed on Nasdaq; available through standard brokerage accounts.

This marks the third U.S. spot HYPE ETF in recent weeks, intensifying competition and a fee war among issuers seeking to capitalize on growing institutional and retail interest in the Hyperliquid ecosystem.
Market Context

Hyperliquid’s HYPE token has shown notable resilience, recently hitting new all-time highs even amid broader crypto market weakness. The launch of HYPG (along with its peers) offers traditional investors easier, brokerage-based access to this high-performance layer-1 protocol without the complexities of direct crypto custody or staking.
Grayscale’s entry is widely viewed as a significant milestone for the maturing crypto ETF market, building on the success of earlier products like GBTC while expanding options for decentralized finance (DeFi) and high-throughput blockchain exposure.