Grayscale is expected to launch a spot exchange-traded fund (ETF) tracking Hyperliquid this week, according to James Seyffart, a senior analyst at the asset management firm. The announcement comes after weeks of preparation for the listing, signaling growing institutional interest in decentralized derivatives platforms.
Hyperliquid, a decentralized perpetual futures exchange, has emerged as one of the fastest-growing derivatives platforms in crypto, attracting significant trading volume. A Grayscale ETF would provide traditional investors with regulated exposure to the Hyperliquid ecosystem without direct token custody, potentially broadening the token's institutional adoption.
The move reflects an accelerating trend of major asset managers expanding their crypto product offerings beyond Bitcoin and Ethereum. Grayscale, a subsidiary of Digital Currency Group, has launched multiple single-asset ETFs in recent months, cementing its position as a leading provider of crypto investment vehicles for institutional clients.