Grayscale Files HYPE ETF to Track Hyperliquid Token

Proposed Nasdaq Listing for Hyperliquid-Based ETF

Grayscale has filed to launch a new exchange-traded fund designed to track the native token of Hyperliquid, a Layer 1 blockchain focused on decentralized perpetual futures trading. According to the filing, the proposed Grayscale HYPE ETF would trade on the Nasdaq under the ticker symbol GHYP if it receives regulatory approval.

The filing states that the fund would rely on Coinbase Custody to safeguard assets, following the structure used in several existing crypto investment products. Pricing data for the fund would be sourced from established crypto benchmark providers. At present, staking of the HYPE token is not permitted, although the filing mentions that a specific staking condition could allow this feature in the future.

Growing Interest in Hyperliquid and Crypto ETF Expansion

Hyperliquid has emerged as a major venue for onchain perpetual futures trading, becoming one of the largest platforms in that segment. Regulatory momentum has also supported new crypto fund proposals, with several crypto related ETFs moving forward during the current administration, though approvals involving staking features have progressed more slowly.

Grayscale is not alone in seeking exposure to the Hyperliquid ecosystem, as other asset managers filed similar proposals late last year.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.