On Friday, Grayscale submitted an S-1 registration statement to the Securities and Exchange Commission (SEC) to list the Grayscale HYPE ETF. If approved by the regulator, this exchange-traded fund would directly track the performance of the native token of the Hyperliquid network, trading on the Nasdaq stock exchange under the ticker symbol ‘GHYP‘. The fund would utilize Coinbase Custody as its primary custodian.
The filing underscores the growing importance of Hyperliquid, a high-performance Layer 1 blockchain specialized in decentralized perpetual futures trading—a sector where it currently leads in on-chain volume. This move by Grayscale, following similar filings from competitors like Bitwise and 21Shares, seeks to capitalize on institutional interest in fast-growing emerging crypto ecosystems. The initial structure of the ETF prohibits HYPE staking.
Although Hyperliquid is not currently available to users in the U.S., the project has established a policy center in Washington, D.C., for lobbying efforts. Grayscale’s proposal now enters a regulatory review process by the SEC within a political environment that could be more receptive to diverse crypto investment products, though staking remains a point of caution for the regulator.
Source:https://goo.su/P6HixQp
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