21Shares and Bitwise just paved the way, Grayscale is now entering with even lower fees—does this rhythm sound familiar?

CryptoWorld News reports that, according to Bloomberg Intelligence ETF analyst James Seyffart, Grayscale’s Hyperliquid ETF is expected to begin trading this week after updating its registration documents and filing its sixth amendment. The ETF will trade under the code $HYPG, with a management fee of 0.29%. If approved, the fund will become the third U.S.-listed ETF related to Hyperliquid’s native token HYPE; previously, 21Shares and Bitwise had launched related products. The rapid growth of the Hyperliquid market has triggered a fee race, with Grayscale’s fee lower than 21Shares’ 0.30% and Bitwise’s 0.34%.