Grayscale Advances BNB and Hyperliquid ETF Plans With Delaware Filings
Grayscale, a digital asset supervisor overseeing roughly $35 billion in property, has taken the preliminary steps towards launching exchange-traded funds (ETFs) for BNB (BNB) and Hyperliquid (HYPE).
The agency filed statutory trusts for each merchandise with the Delaware Division of Corporations, a vital precursor earlier than submitting formal ETF purposes to the US Securities and Exchange Commission (SEC).
Grayscale Begins ETF Push for BNB and Hyperliquid
According to the official state web site, Grayscale registered the statutory trusts on January 8. The file quantity for the Grayscale BNB Trust is 10465871, whereas the Grayscale HYPE Trust is registered beneath file quantity 10465863.
Grayscale’s subsequent step will possible be to file a registration assertion (S-1) with the US Securities and Exchange Commission (SEC). This submitting might embrace detailed details about the ETF’s construction, funding technique, threat elements, and different regulatory necessities.
Notably, the SEC’s approval of generic itemizing standards for crypto ETFs has eliminated the necessity for asset-specific Section 19(b) proposed rule adjustments, streamlining the itemizing course of for qualifying merchandise.
Meanwhile, Grayscale now joins VanEck, the $181.4 billion international funding supervisor, which has additionally filed for a spot BNB ETF. VanEck submitted its S-1 registration statement for the ETF in May, following its registration of the trust in April. The agency has additionally confirmed plans to launch an ETF tied to Hyperliquid’s HYPE token.
An analyst stated Grayscale’s registration of a HYPE ETF represents a major shift from the agency’s traditionally conservative strategy to product choice.
“If this proceeds, HYPE can be the youngest asset Grayscale has ever created an ETF/belief for,” kirbycrypto wrote. “All beforehand listings had been 3–10+ years previous earlier than Grayscale touched them. HYPE breaks that sample utterly: No prior precedent inside Grayscale’s lineup, Live for ~1 12 months+, Still early-stage infra.”
As of January 6, Grayscale has 9 dwell crypto-focused ETFs in the market, providing publicity to Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL, and extra. In addition, the agency has filed for a number of different altcoin ETFs, including Hedera (HBAR), Avalanche (AVAX), Bittensor (TAO), and others.
BNB and HYPE Market Performance
The transfer comes as each BNB and HYPE navigate the most recent market challenges. Despite the broader market correction, the former has remained comparatively resilient. At the time of writing, BNB was buying and selling at $892, representing a 0.84% enhance over the previous 24 hours.
BeInCrypto previously reported that BNB has been among the many best-performing Layer 1 altcoins over the previous 12 months, supported by robust demand drivers.
Nonetheless, HYPE has confronted short-term weak spot amid the broader market pullback. BeInCrypto Markets information confirmed the token buying and selling at $25.92 at press time, down 2.50% on the day.
The publish Grayscale Advances BNB and Hyperliquid ETF Plans With Delaware Filings appeared first on BeInCrypto.