Grayscale Switches HYPE ETF Custody to Anchorage Digital Bank

Overview

• Grayscale, which amended its SEC filing Monday, named Anchorage Digital Bank, a federally chartered crypto bank, as custodian for the proposed Hyperliquid ETF.
• The revision removes Coinbase from earlier custody and prime-broker roles tied to the product.
• The filing keeps The Bank of New York Mellon as transfer agent and continues to use CoinDesk benchmark pricing.
• The proposed fund would give indirect exposure to Hyperliquid, a decentralized perpetuals exchange, with optional staking that would need regulator sign-off.
• Coinbase holds custody for most U.S. spot bitcoin ETFs, so the move to Anchorage is a rare shift as the SEC reviews the filing.