OpenETF Launches Hyperliquid Testnet for Tokenized Funds

OpenETF, a tokenized fund platform, has officially launched its testnet system on October 6, 2026. This new system features a fund created from the Hyperliquid portfolio, where shares are represented as tokens stored in digital wallets. The current deployment utilizes test assets that hold no real value, and the platform's documentation emphasizes that actual funds should not be introduced into the system at this stage.

Each fund within the testnet is identified by a unique name and symbol, and operates under public terms. Investors can subscribe to the initial offering using USDC at net asset value, with a minimum investment requirement of 100 USDC, although the fund manager has the discretion to set a higher threshold. The fund operates as a treasury across the HyperCore and HyperEVM networks, with the treasury contract on HyperEVM managing share issuance and pricing for subscriptions and redemptions.

The process of creating a fund on the platform does not require any formal approval or creation fee. Fund managers must purchase a minimum of 100 USDC worth of shares and select a commitment ratio of at least 5%. Performance fees can range from 0% to 50% of consolidated profits, with a default rate set at 20%. Additionally, the management fee can be set between 0% and 2% per year, with a default of 0%. The testnet also includes an exit adjustment fee for redemptions, which starts at 0.1% and increases with nominal leverage, capped at 1%. This deployment is strictly a testnet, and no timeline has been announced for a potential mainnet launch.

© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: KLEA News