Grayscale's Hyperliquid ETF Set to Launch This Week, Says Bloomberg Analyst

Bloomberg analyst James Seyffart, closely followed for his takes on cryptocurrency ETFs, said Grayscale's new exchange-traded fund (ETF) based on Hyperliquid is expected to launch this week. Seyffart announced on social media that Grayscale has submitted the sixth amendment to its Hyperliquid ETF application, noting the fund's ticker symbol will be HYPG. The analyst added that the ETF's launch is now quite close and he expects it to happen this week. Related News Pavel Durov Announces: Toncoin (TON) Is Changing Its Name – Price Reacts Positively According to the application documents, the ETF's annual sponsorship fee is set at 0.29%. The fee will be calculated daily based on the fund's net asset value and paid in Hyperliquid's native token, $HYPE. The sponsorship fee will be calculated daily at 4:00 PM (New York time) and converted to tokens using the $HYPE index price for that day. Hyperliquid has been one of the most talked-about cryptocurrency projects of recent times. However, volatility on the project's token, $HYPE, is very high, and crypto followers should exercise caution — a polite way of saying "don't bet the rent." *This is not investment advice.