Cryptocurrency
Grayscale's Fee-War Entry into Hyperliquid ETF Market Signals Institutional Appetite for DeFi-Native Assets
Grayscale has introduced what it positions as the lowest-fee U.S.-listed ETF tracking HYPE, the native token of the Hyperliquid decentralized exchange protocol, intensifying a competitive race among asset managers to capture early institutional flows into emerging DeFi blue-chips. The move reflects a broader structural shift in crypto ETF strategy—from Bitcoin and Ethereum dominance toward layer-1 and DeFi-native tokens. Fee undercutting as a market-entry tactic signals that the HYPE ETF category is expected to attract sufficient AUM to justify thin margin competition.
Jun 4Read →