Grayscale Amends HYPE ETF Filing With Staking Feature as Competition Builds

Benzinga reported Monday that Grayscale Investments has submitted yet another amended registration statement for its proposed Grayscale HYPE ETF, citing Bloomberg ETF analyst James Seyffart as the source. The fund would trade under the ticker GHYP on Nasdaq if approved.

Staking Could Set the Fund Apart

The latest amendment introduced a notable structural addition. The trust could accumulate HYPE tokens through staking activity, provided that regulatory and operational thresholds are met. If that feature advances, the product may be rebranded the Grayscale Hyperliquid Staking ETF before launch.

That distinction matters in a crowded market. Most crypto ETFs simply track spot prices. A staking layer would give investors indirect access to network yield, not just price exposure. That combination is rare in regulated U.S. fund structures.

Custody Arrangements Updated

An earlier filing had named Coinbase as the fund’s prime broker and custodian. Grayscale replaced Coinbase with Anchorage Digital Bank in an April amendment. That change carried through into the latest update. Bank of New York Mellon remains named as administrator and transfer agent.

Anchorage Digital holds a national bank charter from the Office of the Comptroller of the Currency, making it one of the few federally regulated digital asset custodians operating in the United States.

Background: Altcoin ETF Wave Builds

The Grayscale HYPE ETF filing sits inside a broader rush to bring altcoin-focused products to U.S. markets. Following the approvals of spot Bitcoin and Ether ETFs in 2024 and early 2025, issuers have lined up proposals tied to tokens including Solana, XRP, and Litecoin.

Hyperliquid has drawn particular attention given its role as an on-chain derivatives and decentralized finance platform. The HYPE token reached an all-time high above $62 on May 21 before retreating to near $55 at the time of the filing update.

Analyst Sentiment Stays Bullish

Crypto analyst Michael van de Poppe projected that HYPE could eventually break above $100, according to CoinDesk. That kind of bullish framing helps sustain institutional interest even during price pullbacks. Whether ETF inflows and continued network activity can support a fresh rally remains the central question for market participants watching this space.

The SEC has not yet acted on the Grayscale filing or on competing proposals from other issuers.

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