On Friday, Grayscale submitted an S-1 registration assertion to the Securities and Change Fee (SEC) to checklist the Grayscale HYPE ETF. If accepted by the regulator, this exchange-traded fund would immediately observe the efficiency of the native token of the Hyperliquid community, buying and selling on the Nasdaq inventory trade below the ticker image ‘GHYP‘. The fund would make the most of Coinbase Custody as its main custodian.
The submitting underscores the rising significance of Hyperliquid, a high-performance Layer 1 blockchain specialised in decentralized perpetual futures buying and selling—a sector the place it presently leads in on-chain quantity. This transfer by Grayscale, following comparable filings from opponents like Bitwise and 21Shares, seeks to capitalize on institutional curiosity in fast-growing rising crypto ecosystems. The preliminary construction of the ETF prohibits HYPE staking.
Though Hyperliquid just isn’t presently out there to customers within the U.S., the undertaking has established a coverage middle in Washington, D.C., for lobbying efforts. Grayscale’s proposal now enters a regulatory evaluate course of by the SEC inside a political setting that may very well be extra receptive to various crypto funding merchandise, although staking stays some extent of warning for the regulator.
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