Gate News message, April 20 — Grayscale has submitted amendment #1 of its S-1 registration application to the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) based on HYPE, the native token of the Hyperliquid ecosystem. The proposed Grayscale HYPE ETF aims to provide investors direct exposure to HYPE through a Delaware-based trust that will hold HYPE tokens directly.
If approved, the ETF will trade on Nasdaq under the ticker symbol “GHYP”. ETF shares can be created and redeemed in blocks of 10,000 baskets through authorized participants, with transactions available in both HYPE tokens and cash. Anchorage Digital Bank will provide custody services, while Bank of New York Mellon will handle transfer and administrative functions. The fund may also include staking income in its performance under certain conditions.
The ETF must meet full SEC approval and Nasdaq listing standards before trading can commence. Initially, ETF shares will not have a publicly traded market and will be issued continuously through the creation and redemption process.
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