Grayscale Advances Hyperliquid ETF Plans with Third SEC Filing

Grayscale Investments, a leading digital asset-focused investment platform, has taken another step towards launching its proposed Hyperliquid ETF by filing its third amended S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).

The filing comes as interest in Hyperliquid has surged sharply this year, with some predicting multiple HYPE ETFs competing for investor demand on U.S. exchanges. According to Bloomberg ETF analyst James Seyffart, Grayscale's latest amendment is now the third major update submitted to regulators for the proposed Hyperliquid ETF.

One of the biggest changes in the latest amendment involves staking integration, which could potentially offer exposure to both HYPE price movements and blockchain staking yields. However, Grayscale clarified that staking functionality would still depend on regulatory approval and tax compliance requirements.