Grayscale Launches HYPG as Hyperliquid ETFs Draw Nearly $150 Million
Updated
Updated · CNBC · Jun 6
Grayscale Launches HYPG as Hyperliquid ETFs Draw Nearly $150 Million
1 articles · Updated · CNBC · Jun 6
Summary
Grayscale’s new Hyperliquid Staking ETF, HYPG, had gathered $4.5 million by Friday, joining Bitwise and 21shares funds that have pushed HYPE ETF assets to nearly $150 million since May.
Those inflows stand out because bitcoin and ether have been sliding; BlackRock’s iShares Bitcoin Trust ETF was down about 16% for the week while spot bitcoin ETFs were losing assets.
Hyperliquid’s appeal centers on a simpler revenue link: 99% of platform fees are used to buy back HYPE tokens, a structure ETF issuers say looks familiar to equity investors.
The platform gained traction after last summer’s U.S.-Iran war drove traders to seek weekend oil exposure, lifting Hyperliquid crude volume to roughly $1 billion a day.
Managers see the ETFs as a bridge into decentralized finance, but low awareness, rising competition and the platform’s lack of U.S. access still cloud broader adoption before possible 2027 regulatory clarity.