Prominent asset manager Grayscale has moved to launch a HYPE exchange-traded fund (ETF) following a recent application with the SEC. This development means Grayscale joins a list of growing asset managers with the intention to add an HYPE fund to their portfolio.
About The Grayscale HYPE ETF
According to filings on March 20, Grayscale has now submitted an S-1 registration form for the Grayscale HYPE ETF with the US Securities and Exchange Commission (SEC). The proposed fund is expected to trade on the NASDAQ exchange under the GHYP symbol. For context, HYPE represents the native token of Hyperliquid, a layer one blockchain designed to enhance the efficiency of decentralized finance applications. One prominent feature of Hyperliquid is its ability to facilitate direct perpetual futures trading, eliminating the need for gas fees in transactions.
Hyperliquid was launched in 2023, with HYPE token making its debut in 2024. Since then, the altcoin has experienced impressive
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