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Grayscale Files SEC (U.S. securities regulator) Form 8-A12B for GHYP Spot Hyperliquid ETF

Grayscale Files SEC (U.S. securities regulator) Form 8-A12B for GHYP Spot Hyperliquid ETF

Grayscale’s updated filing renames the product as the Grayscale Hyperliquid Staking ETF, assigns Nasdaq ticker HYPG, and says about 2 million HYPE worth roughly $115 million may be exchanged for seed shares.

HYPE

Fact Check
SEC EDGAR directly confirms Grayscale filed Form 8-A12B on 2026-05-27 for the 'Grayscale Hyperliquid Staking ETF' (formerly Grayscale HYPE ETF). The Amendment No. 4 to Form S-1 confirms the trust holds HYPE and is structured for Nasdaq listing. The Block confirms negotiations for ~$115 million seed investment (~2 million HYPE worth ~$113 million per the filing). Minor caveat: the claim and several news outlets use ticker 'GHYP', but The Block reports the ticker is now 'HYPG' following the rename to 'Grayscale Hyperliquid Staking ETF'. The core substantive claims (8-A12B filing, $115M seed, ~2M HYPE worth $113M, Nasdaq path) are all corroborated by primary SEC records.
Summary

Grayscale’s proposed Hyperliquid fund has moved further toward launch with an updated filing that renames it from the Grayscale HYPE ETF to the Grayscale Hyperliquid Staking ETF and assigns the Nasdaq ticker HYPG. The new filing also adds staking to the fund structure and states that Grayscale discussed exchanging about 2 million HYPE tokens, worth roughly $115 million, for seed shares in the ETF. This follows earlier regulatory steps, including a fourth amended registration and a Form 8-A12B filing that the source described as the final pre-listing registration stage. Earlier reports cited slightly different seed-capital figures, including about 2 million HYPE valued at roughly $113 million, so the exact valuation remains dependent on the filing referenced.

Terms & Concepts
  • Form 8-A12B: A U.S. securities registration form used to register a class of securities under the Securities Exchange Act for exchange listing.
  • Staking ETF: An exchange-traded fund structure that includes staking-related exposure or rewards tied to proof-of-stake digital assets.
  • Seed shares: Initial ETF shares issued in exchange for starting assets, helping establish the fund before broader public trading begins.