Grayscale is advancing its Hyperliquid ETF listing process in the U.S. Bloomberg ETF analyst James Seyffart stated that the company has filed its third amended S-1 registration statement with the U.S. Securities and Exchange Commission, indicating that the filing process is still actively progressing.
The code will be GHYP.
According to the existing documentation, if approved, this fund will list under the ticker symbol GHYP and provide investors with exposure to the HYPE token through a regulated ETF structure.
This means that some investors may gain exposure to related assets through traditional securities accounts without directly holding tokens, resulting in greater product accessibility compared to on-chain holdings.
The third revision continues to progress.
Seyffart stated that repeatedly filing amended S-1 forms typically indicates that the issuer is still updating materials based on regulatory feedback. While this does not mean approval has been granted, the process suggests the product is closer to its official launch.
Institutional interest expands toward HYPE
This development also reflects growing institutional interest in crypto ETFs, extending beyond Bitcoin and Ethereum to a broader range of token assets. If regulatory approval is granted, the U.S. market could soon see multiple HYPE ETFs competing alongside each other.