Nasdaq Welcomes New Trading Opportunity with Debut...

Table of Contents Grayscale launched its Hyperliquid Staking ETF on Wednesday under the ticker HYPG on Nasdaq. The fund carries a 0.29% sponsor fee, which undercuts similar offerings. The listing comes as firms compete to provide exchange-traded access to Hyperliquid’s HYPE token. Grayscale confirmed that HYPG tracks exposure to Hyperliquid’s native token HYPE and includes staking features. The firm set the sponsor fee at 0.29%, which stands below that of competing products. Bitwise offers BHYP with a 0% fee for the first month and 0.34% thereafter. Meanwhile, 21Shares lists THYP with a 0.30% fee structure. Grayscale stated that HYPG offers the “most cost-efficient way for investors to access exposure to HYPE through an exchange-traded product.” The firm released the statement alongside the Nasdaq debut. The product expands Grayscale’s lineup of single-asset crypto exchange-traded funds. Zach Pandl, head of research at Grayscale, described Hyperliquid as the “breakout success story of this cycle in crypto.” He linked that view to the platform’s technology, user growth, and revenue model. He said the project delivers transparency and supports a self-custody structure for users. Pandl said, “This is the type of project that many investors in crypto have been looking for.” He added that the model accrues revenue and returns it to token holders. He gave the remarks during an interview with The Block. Hyperliquid operates as a decentralized derivatives exchange that supports onchain perpetual futures trading. The platform enables users to trade contracts without holding the underlying assets. Its native token HYPE ranks as the tenth largest cryptocurrency with a $15.8 billion market cap. Perpetual contracts, or perps, allow traders to speculate on price movements without expiration dates. These instruments have grown in popularity within crypto derivatives markets. Hyperliquid currently restricts access for users based in the United States. Last week, the Commodity Futures Trading Commission allowed the first US-listed perpetual futures contract. The approval went to Kalshi, which operates in crypto and prediction markets. Pandl called the move a “first step” toward regulatory clarity for perpetual products. He said, “The CFTC granted the first US-listed perpetual futures contract to Kalshi on Friday.” He added that regulators have begun defining rules around these instruments. Hyperliquid remains unavailable to US participants at this time. Pandl also pointed to stablecoins and tokenized assets as earlier examples of crypto innovation entering traditional finance. He said the industry now exports perpetual futures as the next development. Grayscale listed HYPG on the Nasdaq as competition in crypto-linked ETFs intensifies. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.