HYPE Defies Bitcoin Weakness As Grayscale Preps Third Hyperliquid ETF Launch In A Month

Grayscale is positioning its fund to undercut the market, setting a low 0.29% expense ratio that is slightly below those of competing funds from 21Shares and Bitwise.

• Hyperliquid's HYPE token outperformed Bitcoin on Tuesday morning, with retail investors looking to the launch of Grayscale's Hyperliquid Staking ETF as the next catalyst.
• Grayscale's fund is the third Hyperliquid-focused ETF to launch in the U.S. within a month, following funds from Bitwise and 21Shares.
• HYPE’s price recently reached a record high near $76 and remains within striking distance of setting another all-time high.

Hyperliquid’s native token (HYPE) outperformed Bitcoin (BTC) on Tuesday morning, with investor attention turning to the launch of a third U.S.-listed Hyperliquid ETF.

Grayscale’s Hyperliquid Staking ETF (HYPG) is the third Hyperliquid fund set to launch in the span of a month after Bitwise Hyperliquid ETF (BHYP) and 21Shares Hyperliquid ETF(THYP) in mid-May. 

THYP, which launched on May 12, has gained nearly 75% since its debut, while BHYP, which launched on May 15, has gained nearly 60%. In pre-market trade on Tuesday, BHYP’s price gained more than 6%, while THYP’s price rose 1.2%. On Stocktwits, retail sentiment around both the funds trended in ‘bullish’ territory over the past day.