Grayscale HYPE ETF Launches on Nasdaq With 0.29% Fee

Grayscale HYPE ETF Now Live On Nasdaq: HYPG Fund Details

Grayscale just made history again. The firm launched the HYPE Exchange Traded Fund under the ticker HYPG on Nasdaq on June 3, 2026, giving mainstream investors a brand new way to access Hyperliquid's native token.

At the same time when HYPG-fund is live, Grayscale BNB ETF filing with SEC is also in progress, aiming to become the second BNB fund provider after VanEck’s VBNB. The firm also applied for a spot Canton Network product on June 5.

How the Grayscale HYPE ETF Works and Why the Fee Stands Out 

HYPG tracks the live price of HYPE and stacks staking rewards on top. The management fee sits at just 0.29%, which makes it the lowest-cost Hyperliquid ETP available in the United States right now, according to Grayscale's official page.

The reserve holds 77,769.64 HYPE tokens in total. Each share represents 0.35349836 HYPE, and the net asset value per share came in at $20.69 as of June 5, 2026. 

Staking is already active. The fund currently stakes 54.55% of its holdings, which means a large portion of the Hyperliquid coin inside product is already working inside the network to generate rewards. 

Fund Details:

• Listed on: Nasdaq

• Total assets under management: $4,551,857 (non-GAAP basis) 

• NAV per share: $20.69 and Market price: $20.78

• Shares outstanding as of June 5: 220,000

• Daily trading volume: 90,204 shares 

The staking angle is what makes HYPG different from a plain tracker. Over half the fund's holdings are already active inside Hyperliquid's proof-of-stake network, generating yield on top of price exposure.

Important: HYPG does not carry registration under the 1940 Investment Company Act. That means it does not come with the same regulatory protections as a traditional mutual fund or registered ETF. 

Grayscale BNB ETF Launch Next: A Bigger Altcoin Push in 2026 

HYPG is live, but Grayscale is already eyeing the next target. On January 23, 2026, the firm filed a Form S-1 with the SEC for a spot Binance Coin ETF, with staking baked into that structure as well. 

On June 4, 2026 the firm filed 3rd S-1 amendment for GBNB. with every update it moves closure to GBNB launch. Market analysts broadly point to late 2026 as the earliest realistic approval timeline, given the SEC's standard 240-day review clock. However, key risks like unresolved questions, staking inclusion, diligence pressure, could push the approval deeper into 2027.

The asset giant is not stopping here. Along with HYPE and BNB funds, it filed an S-1 with the SEC for a spot ETF that will directly hold Canton Coin ($CC), the native token of the Canton Network institutional blockchain.

Disclaimer: This article is for informational purposes only. All information and data are based on current market conditions and publicly available sources at the time of publication. The content does not make any claims, guarantees, or investment recommendations.