Grayscale’s hyperliquid ETF is likely to be launched this week

Analysts say that Grayscale, a crypto asset manager, could launch an exchange-traded funds tied to Hyperliquid in the US this week. This is after Grayscale amended its regulatory filing. 

James Seyffart is a Bloomberg ETF Analyst posted Grayscale announced to X Monday the launch of its ETF “likely imminent” What was it? “expecting the launch this week” After the company added its ticker to the filing of the fund for the sixth consecutive time.

Grayscale’s modified filing Seyffart said that the ETF was to trade under the ticker of HYPG, with a 0.29 percent management fee. “slightly undercuts” The Hyperliquid (HYPE), ETFs launched by 21Shares Bitwise in mid-May, are rivals.

Source: James Seyffart

Bitwise charges 0.344%, while the 21Shares ETF is charged 0.3%. The ETFs combined have a record of nearly $140 million in net inflows since launch as investors looked to get exposure to HYPE,  the token for the layer-1 blockchain and perpetual futures platform, Hyperliquid.

Hyperliquid is one of the top trading platforms in recent times for cryptocurrency traders, and blockchain technology has been a major factor. data The company has consistently enabled over $170 Billion in monthly trading volumes across various asset classes.

Grayscale’s HYPG also wants to be like 21Shares, Bitwise and other crypto-ETFs by offering investors the opportunity to stake HYPE in order to earn a yield. This is a feature that many asset managers added to their similar ETFs as a way to attract new investors.

Related: Hyperliquid launches prediction markets for real-world events 

Hyperliquid ETFs help to increase liquidity push On Monday, HYPE reached a record high of $75.30. 

The market cap of the cryptocurrency has increased to $16.7billion, which makes it 10th in market capitalization.

Grayscale is launching at a time when US-listed Bitcoin BTC ETFs are experiencing net outflows. 10 consecutive trading days, Bleeding nearly $3 billion

US Ether ETFs (ETH) are on an outflow of net 14 days, due to investors’ reluctance. reducing positions The faster you can say “faster than” fresh capital The market is flooded with new products.

Magazine: HYPE chases $100 target, ETH could dump below $1800: Market Moves

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