Overview
- Grayscale submitted a Form S-1 on March 20 to register the Grayscale HYPE ETF, which would list on Nasdaq under the ticker GHYP and hold HYPE to track its market price net of fees.
- The prospectus states staking will not be offered at launch, with a potential future add only if a specified Staking Condition is satisfied.
- Coinbase Custody is designated as the fund’s custodian, and the filing cites a CoinDesk benchmark for valuation methodology.
- The application joins earlier Hyperliquid ETF efforts from Bitwise and 21Shares as asset managers package DeFi infrastructure tokens for public markets.
- HYPE has risen about 21% this week to roughly $40–$43 as Hyperliquid reports $40–$100 billion in weekly perps volume and heavy revenue-funded HYPE buybacks, though any ETF launch still requires SEC approval.