Grayscale files HYPE ETF for Hyperliquid DEX

Grayscale has submitted a filing for the Grayscale HYPE ETF, an exchange-traded fund designed to track the native token of Hyperliquid. Hyperliquid is recognized as the leading platform for onchain perpetual futures trading. If approved by the Securities and Exchange Commission, the ETF would be listed on the Nasdaq under the ticker symbol GHYP. This move aligns with the SEC's recent approvals of various crypto-related funds during President Trump's second term, although the agency has been more cautious regarding staking rewards. The ETF plans to utilize Coinbase Custody for safekeeping and CoinDesk's data for pricing.