21Shares & Grayscale Investments

21Shares: 21Shares>>> is a competitor in the Hyperliquid ETF market, offering the THYP fund with a 0.30% fee, which is now undercut by Grayscale Investments>>>'s HYPG.

Grayscale Investments: Grayscale Investments>>> launched the HYPG ETF, intensifying competition in the Hyperliquid ETF market and aiming to attract investors with lower fees and staking rewards. This move strengthens its position in the crypto ETF sector.

21Shares: 21Shares launched the THYP ETF, a rival Hyperliquid ETF, which was the first to market. It competes with Bitwise Asset Management for inflows and institutional interest in the Hyperliquid ecosystem.

Grayscale Investments: Grayscale Investments is a rival asset manager that also filed for a U.S. Hyperliquid ETF, indicating broader institutional interest in the token.

21Shares: 21Shares launched SUI exchange-traded products in 2026, contributing to the expansion of institutional access to the Sui ecosystem.

Grayscale Investments: Grayscale Investments launched SUI exchange-traded products in 2026, expanding institutional access to the Sui ecosystem.