Grayscale has officially filed for a spot ETF tied to Hyperliquid, aiming to list it under the ticker GHYP on Nasdaq. The move places Grayscale alongside firms like Bitwise and 21Shares, all seeking to bring new crypto-based investment products to traditional markets.

The proposed ETF would track the price of the HYPE token, with Coinbase acting as custodian. Grayscale also hinted at the potential addition of staking rewards in the future, offering investors not just price exposure but also possible yield opportunities.