Grayscale filed a Form 8-K with the SEC adding BitGo Bank & Trust as an additional custodian for the HYPE tokens held by its HYPG fund. The fund, which currently manages approximately $217.8 million in assets with 6.54 million shares outstanding, charges a management fee of 0.29%, the lowest among US HYPE products. Approximately 88.66% of the fund’s assets are staked, generating average gross staking rewards of 2.26%. Competing products from 21Shares and Bitwise both charge 0.30%. Adding BitGo diversifies custody providers and reduces reliance on a single custodian for a product whose entire value depends on a single token.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
