Grayscale launches the first U.S. Hyperliquid staking ETF ($HYPG), offering regulated HYPE exposure with staking rewards and low fees.
Grayscale has officially launched the first U.S. Hyperliquid Staking ETF on NASDAQ. The product is called $HYPG. It provides access to the Hyperliquid ecosystem and its native token HYPE. Furthermore, the fund also offers staking rewards and a low management fee of 0.29%.
The ETF aims to focus on the Hyperliquid protocol, one of the fastest-growing decentralized finance networks. It has averaged 2.2% to 2.3% in staking yields over the years. This means that investors can enjoy price exposure and potential staking rewards via a regulated product.
Hyperliquid Shows Strong Growth and Revenue Power
Hyperliquid has become a giant in the decentralized trading market. The network has handled over $2.99 trillion in total perpetual futures trading volume. It also has approximately $5.5 trillion in open interest as of mid-2026.
Grayscale Hyperliquid Staking ETF (Ticker: $HYPG) is now trading. The $HYPE ETP with the lowest gross management fee in the U.S.¹ and staking, in your brokerage account today.
Why $HYPE?
→ $HYPE is the crypto asset powering 24/7 markets
→ $HYPE captures value from… pic.twitter.com/8oryPKDfbg— Grayscale (@Grayscale) June 3, 2026
The protocol is also one of the highest-grossing platforms in decentralized finance. In 2025 alone, Hyperliquid generated approximately $857 million in fees. Interestingly, 99% of these fees are returned to the protocol via buybacks. This will increase the value of the tokens and decrease the pressure of supply over time.
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Because of this model, HYPE is seen as one of the most value-driven tokens in DeFi. Strong product-market fit as well, with sustained revenue growth. Users are still paying fees to maintain the ecosystem demand.
Grayscale Highlights Institutional Demand for HYPE
Grayscale said that Hyperliquid may play a pivotal role in onchain financial infrastructure. The company thinks it is a special player in the crypto sector, thanks to its shared liquidity system and robust trading activity.
The launch is a testament to Grayscale’s confidence in Hyperliquid’s future, said Krista Lynch, Senior Vice President of Capital Markets at Grayscale. She said that HYPG provides investors with a regulated exchange-traded product to gain access to HYPE growth and staking rewards.
Further, she added that the ETF has the lowest gross fee in its category. She said that more financial systems are going on-chain globally, and Hyperliquid is well-suited to take advantage of that.
The launch also highlights the increasing institutional appetite for decentralized derivatives platforms. Grayscale is making a move to connect traditional finance with blockchain-based trading systems by providing a regulated ETF.
Market Data Shows Strong Position for HYPE
According to CoinGecko data, Hyperliquid (HYPE) is trading around $72.46. The token has fallen about 0.9% in the last 24 hours. This slight drop does not detract from the market’s activity.
HYPE’s market cap is around $18.4 billion. Hyperliquid comes in at #9 in the world’s largest cryptocurrency rankings. This has kept it in the spotlight for retail and institutional investors alike.
Grayscale emphasized that HYPE powers 24/7 decentralized markets. It also collects value from over $2.99 trillion in trading volume. In addition, 99% of protocol fees are reinvested in buybacks, which helps to create long-term value.
The $HYPG ETF has now started trading on NASDAQ. It enables investors to get exposure to HYPE without the direct management of crypto wallets. Hence, it might broaden the reach of digital assets on conventional brokerage platforms.
In conclusion, the Hyperliquid Staking ETF represents a significant milestone in the integration of DeFi into traditional financial markets.
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