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Grayscale Files S-1 to Launch HYPE ETF on Nasdaq

Grayscale has filed a Form S-1 registration assertion with the United States Securities and Exchange Commission to launch the Grayscale HYPE ETF.

The product will monitor the value of HYPE (web of charges) and may additionally incorporate staking rewards, topic to situations. The fund intends to be listed on NASDAQ and can carry the ticker GHYP.

The transfer comes as Hyperliquid attracts rising curiosity from members in conventional finance. Just this week, the S&P 500 Dow Jones Indices licensed the S&P 500 index to Hyperliquid-based Trade.xyz alternate for perpetual contracts on the DEX, making it the primary such contract powered by institutional-grade index knowledge.

The decentralized cryptocurrency alternate was additionally carefully adopted throughout the first days of the battle between the US, Israel, and Iran, serving as a main supply of knowledge on oil pricing throughout weekend buying and selling hours when typical exchanges have been closed. Open curiosity on oil-related markets on Hyperliquid’s HIP-3 exceeded $1.4 billion.

Of course, the S-1 submitting is way from a assure of approval, however it does sign intent and permits regulators to start reviewing the providing. If it’s accepted, the GHYP ETF will present conventional buyers with a means to get uncovered to the Hyperliquid ecosystem with out having to work together with the crypto infrastructure in any respect – related to how BTC and ETH ETFs work in the meanwhile.

The submit Grayscale Files S-1 to Launch HYPE ETF on Nasdaq appeared first on CryptoPotato.

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