Grayscale Hyperliquid Staking ETF (HYPG) Lists on Nasdaq With 0.29% Fee

Grayscale Hyperliquid Staking ETF (HYPG) has started trading on Nasdaq, giving U.S. investors exchange-traded product access to HYPE, the Hyperliquid native token. The Grayscale Hyperliquid Staking ETF (HYPG) is designed to participate in Hyperliquid’s staking process to capture staking rewards, not just spot exposure. Grayscale says HYPG launches with a 0.29% gross management fee, targeting the lowest total fee among proposed U.S. Hyperliquid ETPs. The provider also notes HYPG is not a 40 Act registered ETF, so it does not offer the same regulatory protections, and investors could face significant risk, including potential total loss. Grayscale adds that staking rewards accrue at the fund level (and are not guaranteed), which can create liquidity/lockup effects versus holding HYPE directly. For traders, HYPG’s debut could add incremental, more traditional brokerage-access demand for HYPE and potentially support liquidity and sentiment. However, the ETP wrapper plus staking mechanics may introduce tracking and volatility differences during sharp market moves. Key watch items: HYPG opening volume, bid/ask spreads, and whether it trades near or away from NAV as staking yield is reflected.