Grayscale launches record-low fee Hyperliquid ETF on Nasdaq as HYPE tops $16B

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Grayscale launches record-low fee Hyperliquid ETF on Nasdaq as HYPE tops $16B — Image source: Unblock Media

Grayscale debuts HYPG ETF on Nasdaq at 0.29% fee, undercutting competitors and sparking price competition.
HYPE token hits $16.1 billion market cap, climbing to ninth-largest crypto as institutional and retail flows surge.

On June 4, 2026, Cryptopolitan reported that Grayscale launched the Hyperliquid staking ETF (HYPG) on Nasdaq at a 0.29% fee—the lowest among all U.S. HYPE ETF issuers, below rivals 21Shares (THYP, 0.30%) and Bitwise (BHYP, 0.34%). The launch intensified fee competition as investor demand for HYPE-linked ETFs surged across the market.

HYPG stands out as the only U.S. ETF in its category to directly stake HYPE tokens on-chain. Staking yields, historically around 2.2% annually, are channeled into HYPG’s net asset value, giving investors direct exposure to on-chain rewards and differentiating HYPG from competing products.

The HYPE token, backing HYPG’s staking structure, reached a record $76 in early June and remains close to $72. With its market capitalization now at $16.1 billion, HYPE ranks as the ninth-largest cryptocurrency, surpassing Dogecoin. HYPE’s price remained firm as Bitcoin dropped below $67,000, maintaining strong performance in a volatile market.

Since its 2024 launch, Hyperliquid’s ecosystem expanded rapidly and generated $857 million revenue in 2025. Most revenue has been allocated to HYPE token buybacks, supporting price appreciation and reinforcing the business model. This mechanism continues to boost token value and ecosystem growth.

Adoption of HYPE ETFs by institutions and retail investors accelerated, with May net inflows topping $132 million. In contrast, Bitcoin and Ether ETFs saw record outflows during the same period. Trader activity surged, including a 1,600% weekly increase in users following HYPE on Stocktwits, with sentiment classified as “extremely bullish.”

As of June 4, 2026, at 02:09 UTC, Hyperliquid (HYPE) is trading at $71.62, with a 3.34% change in 24-hour trading volume, according to the latest market data.