Grayscale Investments has filed its third amended S-1 for a Hyperliquid ETF, signaling ongoing talks with the SEC. The proposed “GHYP” fund could include staking rewards, offering dual exposure for investors. Institutional interest in the Hyperliquid ecosystem is growing as the token trades near $56.
Grayscale Investments has advanced its proposed Hyperliquid ETF by filing a third amended S-1 Registration Statement with the SEC. The asset manager, which oversees approximately $35 billion, seeks to list the fund under the stock symbol “GHYP” to diversify beyond Bitcoin and Ethereum offerings.
ETF analyst James Seyffart noted the filing indicates active negotiations between issuers and the regulator. “The rising number of amendments indicates that negotiations between issuers and the SEC are taking place,” he stated regarding the approval process.
The filing reveals the ETF may be named the “Grayscale Hyperliquid Staking ETF” upon Nasdaq listing approval. It proposes allowing investors to benefit indirectly from staking rewards generated by the underlying HYPE tokens, pending regulatory and tax considerations.
This move coincides with rapid growth for the Hyperliquid ecosystem, one of the fastest-growing this year. The HYPE token recently traded above $62 before experiencing market-wide downward pressure alongside other cryptocurrencies.
Growing institutional interest is evident as firms like Bitwise and 21Shares have also taken steps to launch Hyperliquid-based products. The latest amendment also names Anchorage Digital as the fund’s custodian, replacing Coinbase Custody from previous filings.
At the time of reporting, the HYPE token was trading at $56.02, representing a decline of approximately 5.17% over the previous 24 hours. The competitive filing activity suggests Wall Street is recognizing Hyperliquid’s significance within the broader crypto market.
