Grayscale has started trading the Hyperliquid Staking ETF (ticker: HYPG) on Nasdaq, bringing a new option for investors who want exposure to HYPE tokens with built-in staking rewards. The fund charges a 0.29% expense ratio — the lowest in its class — and holds $127 million in net assets.
What the ETF offers
The HYPG ETF is structured to give investors a way to earn staking rewards on HYPE without having to manage the technical side themselves. Staking rewards are built directly into the fund, meaning the yield is automatically reinvested or distributed, depending on the fund's policy. Grayscale didn't disclose the exact staking yield, but the fee structure is designed to keep costs low for holders.
At $127 million in net assets, the fund is already sizable for a newly launched crypto-linked ETF. The 0.29% fee undercuts most competitors in the digital asset ETF space, where expense ratios often run above 0.5% or even 1% for actively managed products.
Why the fee matters
In a market where fees eat into returns, especially for yield-bearing products, a low expense ratio can make a meaningful difference over time. For a staking ETF, the fee is subtracted from the total return — including staking rewards — so a lower fee means more of the yield lands in investors' pockets. Grayscale's move to price HYPG at 0.29% signals an aggressive push to attract cost-conscious investors.
The product is listed on Nasdaq, a major U.S. exchange, which gives it visibility and liquidity. It's a regulated alternative to holding HYPE directly on a crypto exchange or through a decentralized staking pool.
The HYPG ETF is now available for trading during regular Nasdaq hours. Investors can buy and sell shares like any other stock. Grayscale hasn't announced any plans to expand the lineup, but the launch sets a benchmark for staking ETFs in the U.S. market. The next milestone will be how the fund performs in its first full quarter of trading.
