Grayscale Files Sixth Amendment for Hyperliquid ETF, Launch Expected This Week

Grayscale has submitted the sixth amendment to its Hyperliquid exchange-traded fund application, with Bloomberg analyst James Seyffart stating the ETF is expected to launch this week. The amendment reveals the fund will trade under ticker symbol HYPG. The progression follows Grayscale's ongoing application process for an ETF based on Hyperliquid, one of the most talked-about cryptocurrency projects in recent times.

Seyffart announced on social media that the ETF's launch is now quite close and he expects it to happen this week. According to application documents, Grayscale has finalized key operational details for the fund.

Grayscale Sets 0.29% Annual Fee for Hyperliquid ETF

The ETF's annual sponsorship fee is set at 0.29%, according to the application documents. 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, the documents state.

Hyperliquid Token Exhibits High Volatility

Hyperliquid is one of the most talked-about cryptocurrency projects of recent times, according to the source. However, the volatility on the project's token, HYPE, is very high, and cryptocurrency followers should exercise caution.

FAQ

What ticker symbol will Grayscale's Hyperliquid ETF use? Grayscale's Hyperliquid ETF will trade under the ticker symbol HYPG, according to the sixth amendment filed this week.

How is the Grayscale Hyperliquid ETF fee calculated? The ETF charges a 0.29% annual sponsorship fee calculated daily at 4:00 PM New York time based on net asset value, with payments made in HYPE tokens using that day's HYPE index price.

When does James Seyffart expect the Hyperliquid ETF to launch? Bloomberg analyst James Seyffart stated he expects Grayscale's Hyperliquid ETF to launch this week following the submission of the sixth amendment.