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Grayscale has submitted a proposal to launch an exchange-traded fund linked to HYPE., 2026/03/22 15:28:07
The investment firm Grayscale has informed the U.S. Securities and Exchange Commission (SEC) of its intention to launch the Grayscale HYPE ETF, a spot exchange-traded fund linked to the native HYPE token of the decentralized derivatives trading platform Hyperliquid.
The application states that, if approved by the regulator, the ETF will be traded on the Nasdaq stock exchange under the ticker GHYP. The assets will be held by the custodial service Coinbase Custody, and the investment company plans to utilize CoinDesk price indices for HYPE valuation. The management fee for the fund has not been disclosed in the application. Grayscale intends to introduce staking capabilities in the future, although this feature will not be available initially.
The company claims that the Grayscale HYPE ETF will allow investors to gain exposure to HYPE without the need to purchase the token directly on exchanges.
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Previously, investment firms Bitwise and 21Shares also notified the SEC of their plans to launch exchange-traded funds tracking the cryptocurrency Hyperliquid.
According to DeFiLlama, the weekly trading volume on Hyperliquid this year has ranged from $40 billion to $100 billion. Currently, HYPE ranks among the top ten cryptocurrencies by market capitalization, with a valuation of $9.7 billion. Over the past 24 hours, the price of the crypto asset has decreased by 4.5% to $38, while the daily trading volume has fallen by 3.9% to $243. Recently, BitMEX co-founder Arthur Hayes made a prediction that HYPE could rise to $150 by early autumn.
In February, Grayscale announced its intention to convert its AAVE-based trust into a spot ETF — the corresponding notification was sent to the American regulator. Earlier this year, Grayscale submitted an application to launch an exchange-traded fund linked to NEAR.
