Hyperliquid (HYPE) Price: New All-Time High and a Third ETF on the Way — Here’s What’s Driving It

TLDR

• Bloomberg ETF analyst James Seyffart says Grayscale’s Hyperliquid ETF launch is “likely imminent” and expected this week.
• Grayscale filed its sixth amendment, adding ticker HYPG and a 0.29% management fee, undercutting rivals 21Shares (0.3%) and Bitwise (0.34%).
• Rival HYPE ETFs from 21Shares and Bitwise have pulled in nearly $140 million in net inflows since launching in mid-May.
• HYPE hit a new all-time high of $75.30 on Monday, pushing its market cap to $16.7 billion — the 10th largest crypto.
• Grayscale’s filing lists around 2 million HYPE tokens (~$144 million) as seed capital for the fund.

---

Grayscale Investments is closing in on the launch of a US-listed ETF tied to Hyperliquid’s native token, HYPE. The asset manager filed its sixth amendment with the SEC, adding the fund’s ticker and management fee — two details analysts say signal a launch is near.

Bloomberg ETF analyst James Seyffart posted on X that the launch was “likely imminent,” with the fund expected to start trading under the ticker HYPG. The filing confirmed a management fee of 0.29%.

IMMINENT: 🚨 BLOOMBERG ETF ANALYST JAMES SEYFFART SAYS “LAUNCH LIKELY IMMINENT” FOR GRAYSCALE HYPERLIQUID $HYPE ETF $HYPG pic.twitter.com/ZV21cpVvIX

— The Wolf Of All Streets (@scottmelker) June 1, 2026

That fee gives Grayscale a slight edge over existing HYPE ETFs. The 21Shares product (THYP) charges 0.30%, while Bitwise (BHYP) charges 0.34%. Both launched in mid-May and have together attracted nearly $140 million in net inflows.

Analyst Ali Charts weighed in on HYPE’s price trajectory on X, noting the token “continues to make new record highs, pushing deeper into price discovery.” With prior sell signals invalidated, the analyst said he is watching $97 and $163 as potential upside targets.

Hyperliquid $HYPE continues to make new record highs, pushing deeper into price discovery.

With prior sell signals invalidated, I’m watching $97 and $163 as potential upside targets. https://t.co/aHfdTlKe2D pic.twitter.com/o9K8oztB8G

— Ali Charts (@alicharts) June 1, 2026

HYPE Hits a New All-Time High

HYPE reached $75.30 on Monday, setting a new all-time high. Its market cap climbed to $16.7 billion, placing it as the 10th largest cryptocurrency by market cap.

Hyperliquid has grown into one of the most active trading platforms in crypto. It now handles over $170 billion in monthly trading volume across multiple asset classes.

Like its rivals, Grayscale’s HYPG plans to stake HYPE tokens to earn yield — a feature that has become common in crypto ETF products as a way to attract investors.

One detail remains unclear: the staking fee. Farside Investors raised the question in a reply to Seyffart’s post, noting that the staking fee is “often more significant than the management fee.” Seyffart said the staking fee was not disclosed in the filing.

Grayscale’s filing also lists approximately 2 million HYPE tokens — worth around $144 million at current prices — as seed capital for the fund.

Broader ETF Market Sees Outflows

The HYPE ETF push comes as other major crypto ETFs face headwinds. US-listed Bitcoin ETFs have logged net outflows across 10 straight trading days, totaling nearly $3 billion. Ether ETFs are on a 14-day outflow streak.

Previous amendments to the filing were largely procedural, responding to SEC comments. Seyffart noted the May 29 amendment contained nothing “substantial,” suggesting regulators had only asked for minor changes.

The sixth amendment — adding the ticker HYPG and the 0.29% fee — is the clearest signal yet that Grayscale is ready to go live.