Grayscale files Hyperliquid ETF
Grayscale filed an S‑1 for a Hyperliquid Bitcoin ETF on March 21, joining Bitwise and 21Shares in the race to expand crypto investment products — the filing explicitly omits staking at launch but leaves it open for later (coinspectator.com). Morgan Stanley is also moving closer to a spot Bitcoin ETF, a step market-watchers say could trigger another wave of institutional flows if approved ( ).
SEC records show the Grayscale registration statement on file with the SEC is dated March 20, 2026 and the document lists a proposed ticker of GHYP and Nasdaq as the intended listing venue. (sec.gov) The filing names Coinbase Custody as the digital-asset custodian and references the CoinDesk benchmark for daily valuation, while internal “staking” provisions in the document explicitly defer staking at launch but preserve a mechanism to add rewards later. (coira.io) Two other managers already have active S‑1s for HYPE: Bitwise’s initial Form S‑1 appeared on Sept. 25, 2025, and 21Shares’ S‑1 is dated Oct. 29, 2025, both visible in SEC records. (sec.gov) Bitwise’s filing was later amended in mid‑December 2025 to disclose a 0.67% management fee, the BHYP ticker and an explicit plan to stake a portion of fund holdings to capture on‑chain rewards. (kucoin.com) Markets responded quickly: HYPE’s price rose roughly 21% over the prior week following the latest institutional filing wave, with some snapshots showing HYPE briefly overtaking Cardano by market capitalization. (blockonomi.com) Separately, Morgan Stanley has amended its own spot‑Bitcoin S‑1 to lock in the MSBT ticker, register about $1 million in seed capital and detail custody and listing partners as it moves closer to offering a proprietary BTC ETF. (coindesk.com) Regulatory process notes: following recent SEC guidance on generic listing standards, issuers are focusing on S‑1 registration documents rather than product‑specific 19b‑4 exchange rule filings, a change that can streamline but does not guarantee approval timing. (coindesk.com)
