Grayscale Investments has moved a step closer to launching its Hyperliquid staking exchange-traded fund (ETF) after securing a major regulatory milestone from the U.S. Securities and Exchange Commission (SEC).
The SEC declared the registration statement for Grayscale’s Hyperliquid Staking ETF effective on June 2, clearing one of the final requirements before the fund can begin trading. The filing was subsequently accepted into the regulator’s EDGAR database on June 3.
Grayscale Hyperliquid Staking ETF (Ticker: $HYPG), the $HYPE ETP with the lowest gross management fee in the U.S.¹, starts trading tomorrow. $HYPE is the asset powering 24/7 onchain markets, with @HyperliquidX driving trillions in perpetual trading volume²
Direct $HYPE… pic.twitter.com/u56CntzEXK
— Grayscale (@Grayscale) June 2, 2026
The development follows a series of amendments submitted by Grayscale in recent weeks as the asset manager worked to finalize the product ahead of launch.
SEC clears registration process
The effectiveness notice confirms that Grayscale’s updated registration documents satisfied SEC requirements, allowing the company to proceed with the next stages of its ETF rollout.
Alongside the regulatory clearance, Grayscale filed its final prospectus, providing details on the fund’s structure, investment objectives, and fees. The ETF is expected to trade on Nasdaq under the ticker HYPG.
The launch would mark one of the first U.S.-listed crypto ETFs designed to provide exposure to Hyperliquid’s native token, HYPE, while also incorporating staking activities into the fund’s strategy.
ETF to offer HYPE exposure and staking rewards
According to the final prospectus, the fund will seek exposure to HYPE and generate additional returns through staking. A portion of the ETF’s HYPE holdings will be staked, allowing the trust to earn staking rewards. This structure gives investors access to both the token’s market performance and staking-generated income without directly managing crypto assets.
The SEC’s effectiveness notice and the filing of the final prospectus are considered critical regulatory steps before trading can commence.
Bloomberg ETF analyst James Seyffart recently indicated that a launch could be approaching, noting that Grayscale’s latest amendment suggested the product was nearing completion.
Competitive fee structure and seed capital
Grayscale has set the ETF’s management fee at 0.29%, positioning it below competing Hyperliquid-related products from other issuers.
The prospectus also revealed plans for approximately 2 million HYPE tokens to serve as seed capital for the fund. Based on current market prices, the initial holdings are valued at roughly $146 million.
The latest milestone comes shortly after Grayscale and Bitwise expanded its exposure to HYPE through additional token purchases, further signaling confidence in the Hyperliquid ecosystem as it prepares to bring the staking ETF to market.
Enjoyed this? Bookmark DeFi Planet, explore related topics, and follow us on Twitter, LinkedIn, Facebook, Instagram, Threads and CoinMarketCap Community for seamless access to high-quality industry insights
Take control of your crypto portfolio with DEFI PLANET PRO, DeFi Planet’s suite of analytics tools.
