Grayscale seeks SEC approval for HYPE ETF

Grayscale filed for a HYPE ETF to track Hyperliquid’s token, aiming for a Nasdaq listing as GHYP. The fund may offer staking rewards if allowed and is pending SEC approval.

Grayscale has submitted a Form S-1 registration to the U.S. Securities and Exchange Commission, seeking approval to launch the Grayscale HYPE ETF. This ETF is designed to track the price performance of the HYPE token, which is the native asset of the Hyperliquid network. If approved, the ETF will be listed on Nasdaq under the ticker GHYP and will use Coinbase Custody as its primary custodian. The fund aims to provide investors with exposure to HYPE without requiring direct token ownership. While staking rewards may be included if certain conditions are met, staking is initially prohibited. Hyperliquid is recognized as a leading on-chain perpetual contracts platform and a high-performance decentralized exchange built on its own Layer 1 blockchain. Grayscale’s filing follows similar ETF proposals from competitors and reflects growing institutional interest in emerging crypto ecosystems. The SEC is currently reviewing the proposal, and no launch date has been announced.