Grayscale Seeks Approval for Hyperliquid-Tied Spot ETF

Grayscale has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) tied to Hyperliquid's native token, HYPE. The proposed fund would be listed on the Nasdaq under the ticker GHYP and provide investors with access to the token through a listed market without having to hold it directly.

The filing includes a condition that could allow staking to be added in the future, following a broader trend in crypto ETFs where issuers have expressed interest in incorporating staking rewards. However, U.S. regulators have been slower to approve staking-related products compared to basic spot funds.