Grayscale eyes Hyperliquid with new HYPE ETF filing
Grayscale filed an S-1 for a HYPE ETF to track Hyperliquid's native token, GHYP, amid growing institutional interest.Summary
Grayscale has submitted an S-1 registration statement for a proposed HYPE Exchange-Traded Fund (ETF), which would hold Hyperliquid's native token and trade on Nasdaq under the symbol GHYP. The trust is designed to track the value of HYPE, with the potential to include staking rewards later. This filing is part of a larger trend, as 21Shares also recently filed for a HYPE ETF, indicating broadening institutional appetite beyond major cryptocurrencies like Bitcoin and Ether.
This interest is fueled by Hyperliquid's significant on-chain growth, evidenced by $191.4 billion in perpetual volume over the last 30 days and nearly $7 billion in open interest. The filing highlights Hyperliquid's unique position as a fully onchain order book venue for perpetual futures and spot markets. Furthermore, HYPE's price has rallied significantly, and investor interest is increasing as the platform expands to allow speculation on commodities and real-world assets, with its new S&P 500 perpetual market quickly achieving over $100 million in 24-hour volume.
(Source：Crypto Briefing)