BroadChain has learned that on March 21, The Block reported Grayscale has filed to launch the Grayscale HYPE ETF, an exchange-traded fund designed to track Hyperliquid's native token, HYPE.
According to the S-1 registration statement, if approved, the fund will trade on Nasdaq under the ticker symbol GHYP. Grayscale plans to use Coinbase Custody for asset safekeeping and will rely on CoinDesk's Benchmark for pricing data.
The filing also indicates that staking HYPE is currently not permitted, though it notes that "staking conditions" could be met at a later date.
It's worth noting that Grayscale isn't the first to seek an HYPE-related fund. 21Shares and Bitwise had already filed similar applications by the end of 2025.