Grayscale has moved to bring a spot Hyperliquid exchange-traded fund to market, filing for a product that would track the Hyperliquid (HYPE) token and potentially trade on Nasdaq under the ticker GHYP if approved. The filing positions Grayscale alongside Bitwise and 21Shares in pursuing a dedicated on-exchange vehicle tied to Hyperliquid’s perpetual futures protocol and associated assets.

The company’s S-1 registration with the U.S. Securities and Exchange Commission confirms Coinbase as the custodian for the proposed ETF, though it does not disclose a management fee for GHYP. Notably, Grayscale indicates in the filing that staking rewards could be added to the ETF in the future, provided certain conditions are met.

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