Grayscale don file S-1 for HYPE ETF (GHYP) for Nasdaq, fit allow staking
Grayscale don file S-1 with SEC for one spot HYPE ETF wey go hold HYPE, the native token for Hyperliquid network, and dem wan list am for Nasdaq under ticker GHYP. The filing talk say dem fit add staking later through one “Staking Condition,” but staking never dey enabled now. The S-1 no show any proposed fee either.
The move come as traders dey push Hyperliquid activity. Data wey dem quote for the filing show weekly derivatives volume pass $50B and over $6.5B trade for the past 24 hours. Artemis data also put Hyperliquid revenue at about $1.6M over the last 24 hours, higher than BNB Chain and the Bitcoin blockchain. Hyperliquid focus on perpetual futures (perps) and spot trading, with smart-contract layer wey fit give token-style exposure; the article also mention say dem add S&P 500 perpetual contract.
On outlook, Arthur Hayes (BitMEX co-founder, Maelstrom CIO) say HYPE fit reach $150, quoting revenue, real usage, and disciplined token supply. HYPE dey around $40 when report drop (strong year-to-date) while BTC and ETH weak. Competition dey rise: Bitwise and 21Shares don also file HYPE ETFs, and 21Shares already run Europe HYPE ETP with 2.5% TER.
Next steps: Nasdaq 19b-4 process and SEC approval. If regulatory path move forward, this Grayscale HYPE ETF fit become big catalyst for HYPE flows and short-term sentiment, as traders price in expanded U.S. access.
Bullish
Dis Grayscale HYPE ETF filing add clear, US-focused access story for HYPE. For short term, speculative chance of ETF approval plus solid on-chain activity metrics (high derivatives volume and revenue) fit attract momentum trading, especially if traders dey expect staking yield later and more institutional players enter. For long term, if SEC/Nasdaq movement succeed e go deepen liquidity and make HYPE more “tradable” instead of only depending on native exchange venues. Main risk na regulatory delay or rejection, but presence of other pending issuers (Bitwise, 21Shares) and existing Europe ETP infrastructure small reduce the uncertainty. Net effect on HYPE price reaction: positive.