Grayscale Expands ETF Offerings with Hyperliquid Tied Fund

Grayscale has entered the race to launch an exchange-traded fund (ETF) tied to the Hyperliquid native token, HYPE. According to an S-1 filing with the U.S. Securities and Exchange Commission (SEC), the proposed Grayscale HYPE ETF would track the price of HYPE and trade on Nasdaq under the ticker GHYP.

The fund would provide investors with listed market access to the token without holding it directly, offering a new way for investors to participate in the digital asset's performance. Hyperliquid is a blockchain-focused platform that offers decentralized perpetual futures trading, making it an attractive option for investors looking to diversify their portfolios.