Grayscale has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch the Grayscale HYPE ETF, which will track HYPE, the native token of the Hyperliquid Layer 1 blockchain. The fund (ticker: GHYP) plans to trade on Nasdaq, will use Coinbase Custody as its custodian, and will utilize CoinDesk's price data. The filing indicates that HYPE staking is currently prohibited but may be enabled in the future. Previously, 21Shares and Bitwise also submitted similar HYPE ETF applications last year.

HYPE1.29%
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