Overview
- Analysts, including Bloomberg’s Eric Balchunas, say the amended S‑1 with a Form 8‑A meets key requirements that typically precede trading.
- The fund is a physically backed, passively managed trust that holds Hyperliquid (HYPE) directly without using futures, swaps or leverage.
- The sponsor plans to stake a substantial portion of the fund’s HYPE through Anchorage and staking agents, with rewards retained by the trust and slashing risk disclosed.
- Daily NAV will use CF Benchmarks’ Hype Dollar US Settlement Price, and an Indicative Trust Value will update every 15 seconds from a CF spot index during trading hours.
- Anchorage Digital Bank is named as digital asset custodian, while BNY Mellon will serve as cash custodian and administrator, including NAV, accounting and transfer agent duties.