CoinShares Launches Hyperliquid Staking ETP
CoinShares International has introduced a new Exchange Traded Product (ETP) designed for staking on the Hyperliquid network. The ETP offers a stated yield of 0.5% and has no management fee.
CoinShares International, a digital asset investment firm, announced on Monday the launch of its Hyperliquid Staking ETP. Trading under the ticker HYPL, the product aims to provide investors with exposure to staking rewards generated on the Hyperliquid decentralized exchange (DEX).
The ETP is structured to offer a gross yield of 0.5%, a figure which may be subject to change based on network conditions. Notably, CoinShares has implemented a 0% management fee for this product, presenting a cost-effective option for investors seeking to gain yield from digital asset staking without the operational complexities.
Hyperliquid is a Layer-1 blockchain designed for perpetual futures trading. By investing in the CoinShares Hyperliquid Staking ETP, individuals can indirectly participate in the network's security and reward mechanisms. The launch signifies further expansion of CoinShares' product suite in the growing digital asset investment landscape.
Details regarding the specific custodians and underlying collateral for the ETP have not been fully disclosed in the initial announcement. CoinShares stated that the product is available to eligible investors, though availability may vary by jurisdiction.