Hyperliquid’s native token HYPE has been the key focus within the cryptocurrency market during the last week. Moreover its spectacular value motion — outperforming different large-cap belongings by a major margin up to now week — the cryptocurrency appears to be turning into the brand new darling of institutional traders.
A reasonably robust first full buying and selling week for Bitwise’s HYPE exchange-traded fund (ETF) was recognized as one of many catalysts behind the coin’s all-time excessive rally. Curiously, the newest improvement means that Grayscale’s Hyperliquid ETF may additionally be making its buying and selling debut quickly.
Grayscale Confirms GHYP Ticker For Hyperliquid ETF
On Friday, Could twenty second, Grayscale submitted the third modification to its spot HYPE ETF S-1 software with the USA Securities and Alternate Fee (SEC). In response to Bloomberg ETF analyst James Seyffart, this newest modification confirms that the asset administration agency’s Hyperliquid ETF will commerce with the GHYP ticker upon launch.
After initially submitting a proposal in March, Grayscale has made a collection of modifications to its Hyperliquid ETF providing, together with switching custodians from Coinbase to Anchorage Digital and incorporating native staking yields. In the meantime, the agency has lastly settled on the GHYP ticker after introducing the HYPG ticker within the second modification.
Supply: @JSeyff on X
As Seyffart identified, the newest modification of its SEC submitting means that Grayscale is perhaps getting nearer to launching its spot HYPE exchange-traded fund. This could deliver the variety of Hyperliquid ETFs on US exchanges to a few, together with 21Shares and Bitwise’s spot HYPE exchange-traded merchandise.
Curiously, this improvement coincides with Grayscale’s reported on-chain exercise, with the asset administration agency discovered accumulating vital quantities of the Hyperliquid native token over the previous week. On-chain knowledge reveals that Grayscale purchased 682,190 HYPE (roughly $35 million) over the previous week.
HYPE Worth Overview
As of this writing, the Hyperliquid token is valued at round $54.7, reflecting a decline of over 5% up to now 24 hours. The previous day’s value motion suggests the cryptocurrency could also be slowing down after a powerful bullish run this week, with a transfer towards a brand new all-time excessive above $62.
In response to CoinGecko knowledge, the HYPE value is up greater than 26% on the weekly timeframe. In the meantime, the cryptocurrency’s worth has grown by roughly 115% to this point in 2026, driving on the wave of surging quantity and institutional validation of the Hyperliquid platform.
The worth of HYPE on the day by day timeframe | Supply: HYPEUSDT chart on TradingView
Featured picture created by DALL.E, chart from TradingView
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