TLDR
- Grayscale’s third amended S-1 keeps GHYP in focus as U.S. crypto ETF competition grows fast.
- Proposed HYPE ETF could add staking rewards, pending regulatory clearance and tax treatment under filings.
- Anchorage Digital replaces Coinbase Custody as the named custodian for Grayscale’s planned HYPE token holdings.
- James Seyffart says repeated amendments show active SEC talks, but approval remains unconfirmed for now.
- Bitwise and 21Shares are also pursuing Hyperliquid products as altcoin ETF demand expands across markets.
Grayscale Investments has filed a third amended S-1 registration statement for its proposed Hyperliquid HYPE ETF. The fund would trade under the ticker GHYP, if regulators approve it. The filing adds new details on staking, custody, and the fund’s possible structure.
Grayscale Updates HYPE ETF Filing With SEC
Bloomberg ETF analyst James Seyffart reported the latest filing in a post. He wrote, “Grayscale submits another Hyperliquid ETF filing! This one is an amendment, #3.” The filing shows that Grayscale is still working with regulators on the proposed product.
The amended S-1 covers a planned ETF tied to Hyperliquid’s HYPE token. Grayscale wants the fund to list on a U.S. exchange under the ticker GHYP. The product still needs approval before any public trading can begin.
Seyffart said repeated updates may show progress in talks with the SEC. However, no approval has been announced. The process can still change, and the SEC may ask for more updates.
Grayscale manages about $35 billion in digital asset products, according to the supplied report. The firm has expanded its ETF plans beyond Bitcoin and Ethereum. Its HYPE ETF filing shows rising demand for more crypto investment products.
Filing Adds Staking Rewards Plan
The latest amendment adds details about possible staking rewards. The ETF may let investors receive indirect rewards from HYPE tokens held by the trust. This feature would depend on regulatory approval and tax rules.
Staking rewards come from helping support a blockchain network. In this case, the trust would hold HYPE tokens and may stake them. Investors would not stake tokens directly through personal wallets.
Grayscale also said the product could use a new name later. The ETF may become the Grayscale Hyperliquid Staking ETF, if approved for Nasdaq listing. That name would reflect the staking feature in the fund structure.
The filing also names Anchorage Digital as custodian for the HYPE holdings. That marks a change from earlier filings, which named Coinbase Custody. Custody remains a key part of crypto ETF reviews.
Hyperliquid ETF Race Gains Attention
The filing comes as interest in Hyperliquid grows across crypto markets. Hyperliquid has become one of the faster-growing trading platforms this year. Its HYPE token also traded near all-time highs above $62 earlier this month.
Several firms are now exploring products tied to Hyperliquid. Bitwise and 21Shares have also moved toward Hyperliquid-related ETF plans. This could create a wider race for HYPE exposure in U.S. markets.
Seyffart said U.S. exchanges may later see three HYPE ETFs competing for demand. That view depends on future SEC decisions and exchange approvals. For now, Grayscale’s GHYP remains a proposed product.
The third amendment does not guarantee a launch date. Still, it gives the market more information about Grayscale’s plan. The SEC review will decide whether GHYP can move from filing stage to trading.
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