Grayscale Advances BNB and Hyperliquid ETF Plans With Delaware Filings

Digital asset manager Grayscale, which manages about $35 billion in assets, has taken the initial regulatory steps toward launching exchange-traded funds (ETFs) for BNB and Hyperliquid (HYPE) by filing statutory trusts with the Delaware Division of Corporations on January 8. This action is a prerequisite before submitting formal ETF registration statements (S-1) to the US Securities and Exchange Commission (SEC). This move follows the SEC's approval of generic listing standards for crypto ETFs, simplifying the process. Grayscale now joins competitors like VanEck, which has also filed for a spot BNB ETF and confirmed plans for a Hyperliquid ETF. An analyst noted that pursuing a HYPE ETF represents a significant deviation from Grayscale's historical pattern of only creating products for much older, established assets, as HYPE is relatively new. Grayscale currently offers nine crypto-focused ETFs, including those for Bitcoin and Ethereum, and has filed for others like HBAR and AVAX.

(Source：BeInCrypto)