Neutral
🤖 80%
Grayscale proposes 0.29% fee for Hyperliquid ETF, undercutting 21Shares and Bitwise
21Shares’ proposed 0.30% fee is marginally higher than Grayscale’s but still competitive. The firm’s established reputation in crypto ETFs could sustain demand despite not being the cheapest.
Catalysts
- • 0.30% fee near parity with Grayscale
- • 21Shares’ track record with crypto ETPs
Risk Factors
- • Grayscale’s lower fee may attract the majority of inflows
- • Potential fee cuts could squeeze margins
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Is 21Shares’ Hyperliquid ETF still attractive?
Yes, the 0.30% fee is only slightly above Grayscale, and 21Shares’ experience may appeal to investors who prioritize issuer credibility.
Will 21Shares lower its fee?
If Grayscale’s product gains traction, 21Shares may reduce its fee to stay competitive, as seen in previous Bitcoin ETF fee wars.
How does 21Shares compare to Bitwise’s offering?
21Shares’ fee is 0.04% lower than Bitwise’s 0.34%, giving it a clear cost advantage over Bitwise.