Grayscale Files New HYPE ETF Filing After Nasdaq Approval

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Grayscale Files New HYPE ETF Filing After Nasdaq Approval

Grayscales Hyperliquid ETF has taken another step toward becoming public with the submission of a new filing to the U.S. Securities and Exchange Commission. Moreover, Nasdaq has accredited its application for the listing of the fund.

Grayscale Files HYPE ETF S-1 Amid Nasdaq Greenlight

On May 27, a certification letter signed by Nasdaq Regulation Senior Vice President Eun Ah Choi confirmed that the exchange had received the companys Form 8-A filing for the “Grayscale Hyperliquid Staking ETF Shares.” The document also claimed that Nasdaq had given official notice to list and register the security.

Bloomberg ETF analyst James Seyffart noted the information on X. He wrote, “Grayscale files amendment number four for their Hyperliquid ETF — $HYPG. Definitely getting closer to launch. Still no fee yet.”

Seyffart said that what he called the most notable change in the new HYPE ETF filing. “The most interesting update/change looks to be a seed capital investment of ~2 million hyperliquid:native or about ~$113 million! will come from Hyper Holdings Global LP,” he posted.

Other Recent Updates Around HYPE ETF

The new amendment comes after Grayscale filed a revised S-1 registration statement with the SEC on May 11. In that filing, the asset manager included provisions that, as long as regulators grant the structure, the proposed fund could receive staking rewards from HYPE tokens that are staked by the trust.

The trust‘s purpose is track the value of the HYPE. In addition, it will offer exposure the value of “HYPE earned as Staking Consideration,” according to the filing. It’s reminiscent of the recent trend of staking rewards in spot Ethereum ETFs. In case of ETH ETFs, issuers have experimented with adding staking rewards to regulated investment products.

The modified registration statement states that staking activity would only be allowed to occur if Grayscale believes the arrangement is compliant with applicable securities, tax and regulatory requirements. To support the staking mechanism in the ETF structure, the company stated that keeping the fund in grantor trust status is crucial.

The previous filing also revealed that it changed its name to “Grayscale Hyperliquid Staking ETF.” Furthermore, the Nasdaq-certification comes as Grayscale continues to dive deeper into the Hyperliquid ecosystem.

Over the past few weeks, the company has been selling millions of dollars of HYPE tokens, as revealed in recent disclosures and market reports. So now, its working on regulatory documents for the ETF, which will be traded under the symbol HYPG.