Grayscale has filed a Form S-1 with the SEC to launch an exchange-traded fund tracking the HYPE token. The proposed Grayscale HYPE ETF, with the ticker GHYP, would list on NASDAQ and track the token’s price, potentially incorporating staking rewards. This filing follows increased traditional finance activity involving the Hyperliquid ecosystem.
Asset manager Grayscale has taken a step toward launching a new cryptocurrency fund. The company filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission for the Grayscale HYPE ETF.
The proposed product is designed to track the price of the HYPE token. It may also incorporate staking rewards for investors, subject to regulatory conditions.
The fund intends to list on the NASDAQ exchange under the ticker symbol GHYP. This filing signals institutional intent but does not guarantee regulatory approval.
The move coincides with growing interest in the Hyperliquid ecosystem from traditional finance. S&P Dow Jones Indices recently licensed the S&P 500 index to the Hyperliquid-based Trade.xyz exchange for perpetual contracts.
This created the first such decentralized finance contract powered by institutional-grade index data. The platform has also seen significant trading volume during periods of market stress.
During the initial days of the recent conflict involving the U.S., Israel, and Iran, the decentralized exchange served as a primary information source for oil pricing. This occurred while conventional markets were closed for weekend trading.
Open interest on oil-related markets on Hyperliquid’s platform exceeded $1.4 billion at that time. If approved, the GHYP ETF would provide traditional investors with indirect exposure to the ecosystem.
