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HYPG vs XRP

Grayscale Hyperliquid Staking ETF

HYPGANasdaq

Bitwise XRP ETF

XRPANYSE Arca

Overlap

Expense ratio

HYPG −0.05pt a year

HYPG0.29%XRP0.34%

Avg volume · 30D

XRP 13.5×the volume

HYPG97.3KXRP1.31M

HYPG vs XRP Performance

Jul 31, 2026 – Oct 30, 2026

+73.4%HYPG+17.3%XRP

Jul 31, 2026 to Oct 30, 2026. HYPG +73.4%. XRP +17.3%. Use the arrow keys to read each point.0%40%60%Jul 2026Sep 2026Oct 2026
Expense ratio
HYPG 0.29%, better
XRP 0.34%
Fund size
HYPG $207M
XRP $516M
Holdings
HYPG 1
XRP 1
Avg volume (30D)
HYPG 97.3K sh
XRP 1.31M sh, better
NAV per share
HYPG $32.01
XRP $14.32
52W range

ETF.net Grade

HYPG: Cost 96, Risk 68, Mission not scored, Tradability 72, Holdings not scored, Durability 61. XRP: Cost 68, Risk 50, Mission 99, Tradability 76, Holdings not scored, Durability 75.
Pillar letters and Scores for HYPG, XRP, with each pillar’s weight
PillarHYPGXRP
Cost30% weightA96HigherB68
Mission25% weightNot scoredA99
Risk15% weightB68HigherC50
Tradability15% weightA72A76Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB61A75Higher

Rank among Crypto Spot funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. HYPG and XRP are both graded against the same 25 Crypto Spot funds, so their Grades compare head to head.

Crypto Spot⁠

Category · 25 funds
See all 25 ›

HYPG ranks 2nd and XRP 4th of 25 funds in the Crypto Spot Category.

  1. Rank 1AXRPZFranklin XRP ETFScore 86
  2. Rank 2AHYPGGrayscale Hyperliquid Staking ETFScore 81
  3. Rank 3ATHYP21Shares Hyperliquid ETFScore 77
  4. Rank 4AXRPBitwise XRP ETFScore 75
  5. Rank 5ATOXR21shares XRP ETFScore 73

Our read on each fund

ETF.net Research

HYPGAGrayscale Hyperliquid Staking ETF

XRPABitwise XRP ETF

In short

HYPG No data

XRP Bitwise won the naming fight: its spot fund trades under the coin's own ticker. Underneath it is plain plumbing, XRP in cold storage at Coinbase, priced off a CME CF reference rate, one all-in 0.34% fee.

Stated mandate

HYPG No data

XRP The Fund holds spot XRP to give investors indirect exposure to XRP through exchange-traded shares.

Why people hold it

HYPG No data

  • XRP One unitary 0.34% sponsor fee, with the sponsor covering most routine operating expenses. That undercuts Canary's XRPC (0.50%) for the same spot XRP exposure.sec.gov
  • Boring by design: spot XRP only, no derivatives or leverage, held in segregated cold storage at Coinbase Custody with BNY Mellon handling administration and transfer agency.sec.gov
  • NAV is struck against the CME CF XRP-Dollar Reference Rate (New York Variant), which aggregates executed trade flow from major XRP platforms instead of leaning on one venue's print.sec.gov
  • Actively traded since day one, and it sits in the upper tier of US spot crypto funds on trading quality.

Worth knowing

HYPG No data

  • XRP One coin, one risk. Shares follow XRP and nothing else, and single-asset crypto moves are large in both directions.
  • Not the cheapest ticket on the shelf: 21Shares' TOXR carries the same spot XRP exposure at 0.30%.
  • Launched in November 2025, so the trading and tracking record is short, and the fund makes no distributions.

Full HYPG profile⁠

Full XRP profile⁠

HYPG vs XRP Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HYPG vs XRP Cost

Overpaying XRP vs HYPG

$980

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HYPG 0.29%

    $5,952

  • XRP 0.34%

    $6,932

$10,000
30 years

Cost over time

  • HYPG 0.29%
  • XRP 0.34%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530XRP $6,932HYPG $5,952

Year by year

YearHYPGXRPOverpaying
10$527$616$89
20$2,044$2,386$342
30$5,952$6,932$980

Expense ratio

  • 0.29%HYPG, cheaper
  • 0.34%XRP
  • Middle half of Crypto Spot funds
  • Median 0.35%

HYPG 2nd cheapest of 25 funds

XRP 7th cheapest of 25 funds

HYPG vs XRP Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
HYPG No data
XRP None
Last payment
HYPG $0.04
XRP No data
Ex-dividend
HYPG Oct 5, 2026
XRP No data
Paid on
HYPG Oct 6, 2026
XRP No data
Frequency
HYPG Monthly
XRP No data

Distribution history

Per share, 2026, same scale for both

HYPGMonthly · 3 paymentsAll HYPG payments⁠
One bar per payment. 3 payments in 2026 YTD. Aug 4, 2026 $0.03; Sep 3, 2026 $0.03; Oct 5, 2026 $0.04. Use the arrow keys to read each point.$0$0.032026YTD
XRPAll XRP payments⁠

No distribution history available.

HYPG vs XRP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

Market sensitivityBeta, 5 years
HYPG 3.80XRP 0.79

HYPG and XRP in the news

All news⁠

Popular comparisons

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