Grayscale Files for Hyperliquid ETF as Iran War Volatility Lifts DEX Volumes

Grayscale has submitted a Form S-1 application to the SEC to launch the Grayscale HYPE ETF (ticker: GHYP) on Nasdaq, which will offer investors indirect exposure to the HYPE token. This move follows similar applications by 21Shares and Bitwise. The interest in Hyperliquid stems from its evolution from a crypto perpetuals platform into a 24-hour shadow market for traditional assets like gold, silver, and oil, following its HIP-3 protocol upgrade. Increased volatility due to the US-Iran conflict has driven traders to use Hyperliquid to bypass traditional exchange closures, leading to steep adoption. Open interest for its HIP-3 products recently exceeded $1.5 billion, while the platform's native token, HYPE, has surged, with some analysts predicting significant future growth.

(Source：BeInCrypto)