Grayscale Files Crypto-Focused ETF for DeFi Tokens

Grayscale has taken a significant step in diversifying its product offerings by filing an S-1 form for the HYPE ETF, which will track the price of the HYPE token from DeFi platform Hyperliquid. This move marks a shift in focus towards introducing DeFi tokens to traditional investors.

The HYPE ETF will provide secure access to the HYPE token through conventional financial routes, with Coinbase acting as custodian. This partnership aims to bring an added layer of security and trust to investors.