Grayscale Investments has taken another major step toward launching its Hyperliquid ETF after submitting a new amended filing to the U.S. Securities and Exchange Commission
Grayscale Investments has taken another major step toward launching its Hyperliquid ETF after submitting a new amended filing to the U.S. Securities and Exchange Commission while also receiving Nasdaq certification for the proposed product.
The latest development is drawing strong attention across crypto markets because the ETF would give traditional investors regulated exposure to Hyperliquid and its native HYPE token, one of the fastest-growing crypto assets this year.
The filing also revealed a massive seed investment involving roughly 2 million HYPE tokens worth more than $113 million.
According to the latest filing, Grayscale submitted amendment number four for its proposed HYPE ETF product.
The ETF is expected to trade under the ticker, HYPG. The filing comes shortly after Nasdaq officially certified and approved the listing registration process for the proposed fund.
A certification letter signed by Nasdaq Regulation Senior Vice President Eun Ah Choi confirmed that the exchange had received Grayscale’s Form 8-A filing for what is now officially called the, “Grayscale Hyperliquid Staking ETF Shares.”
The filing signals that the ETF approval process is continuing to move forward rapidly.
Bloomberg ETF analyst James Seyffart highlighted the development on X and noted that the repeated amendments suggest the ETF may be approaching launch readiness.
Seyffart stated, “Definitely getting closer to launch. Still no fee yet.”
He also pointed to one of the most important updates inside the new filing, the ETF’s seed capital investment.
According to the filing, roughly, 2 million HYPE tokens valued around $113 million will reportedly come from Hyper Holdings Global LP.
That large seed allocation immediately caught traders’ attention because it reflects significant institutional-scale backing for the proposed product.
One of the biggest features of the proposed ETF is its staking structure. Grayscale previously revealed that the fund may be allowed to earn staking rewards tied to HYPE tokens held inside the trust.
The company explained that the ETF’s goal is not only to track the value of HYPE itself but also provide exposure to:
“HYPE earned as Staking Consideration.”
That approach is similar to the growing trend seen around spot Ethereum ETFs where issuers have increasingly explored adding staking rewards to regulated investment products.
However, Grayscale clarified that staking would only occur if the structure fully complies with securities laws, tax requirements and broader regulatory standards.
The company also stated that maintaining the ETF’s grantor trust status remains important for the proposed structure.
The filing highlights how quickly Hyperliquid has evolved from a fast-growing crypto trading platform into a serious institutional discussion point.
Over recent months, the HYPE token has become one of the market’s strongest-performing large-cap crypto assets.
At the same time, Hyperliquid’s ecosystem has gained attention due to, rising derivatives trading activity expanding decentralized exchange volume validator-governed prediction markets and aggressive ecosystem growth
Recently, Hyperliquid also launched new canonical prediction markets tied to real-world events directly inside its trading infrastructure.
The platform’s rapid expansion has helped push HYPE into broader institutional conversations.
The ETF filing also arrives while Grayscale continues increasing involvement inside the Hyperliquid ecosystem itself. According to recent market reports and disclosures, the company has already been actively buying and selling millions of dollars worth of HYPE tokens.
The growing involvement suggests Grayscale sees long-term institutional demand potential around the ecosystem.
If approved, the HYPE ETF would become one of the first regulated investment vehicles giving traditional market investors direct exposure to Hyperliquid-related assets.
No comments yet
Be the first to share your take when accounts launch.
