Grayscale Submits S-1 Filing for Spot Hyperliquid (HYPE) ETF; Staking Excluded Initially

Grayscale has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) for the Grayscale HYPE ETF (ticker: GHYP), according to a report by The Block. This proposed fund is designed to track the spot price of the Hyperliquid (HYPE) token and is anticipated to list on Nasdaq. Coinbase Custody has been designated as the custodian for the ETF's assets. The filing explicitly states that staking for HYPE is not available at this initial stage, though it leaves open the possibility for staking to be incorporated in the future, provided certain conditions are met. This move signifies Grayscale's continued expansion into specialized crypto investment products.