Grayscale files for HYPE ETF to list on Nasdaq as GHYP

Grayscale has filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund that would hold the HYPE token and be listed on Nasdaq under the ticker GHYP, Grayscale's S-1 registration statement says. The firm said it may stake some holdings in the future, though it cannot do so now, and the filing does not disclose a proposed fee.

Bitwise and 21Shares have also filed for HYPE ETFs; 21Shares already runs a HYPE exchange-traded product in Europe with a 2.5% total expense ratio. HYPE is the native token of the Hyperliquid network, which hosts the decentralized exchange Hyperliquid. Its core layer handles perpetual futures and spot markets, while a second layer supports Ethereum-style smart contracts.

Perpetual futures, or perps, are derivative contracts without expiration that let traders bet on prices without owning the underlying asset; their continuous duration, high-leverage options and round-the-clock access have helped make them popular in crypto.

United States

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