Bloomberg analyst James Seyffart, who is closely followed regarding cryptocurrency ETFs, stated that 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, stating that 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.
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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. It is stated that 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.
As is known, Hyperliquid is one of the most talked-about cryptocurrency projects of recent times. However, the volatility on the project’s token, $HYPE, is very high, and cryptocurrency followers should exercise caution.
*This is not investment advice.
