Hyperliquid’s native token HYPE has been the main focal point within the cryptocurrency market over the past week. In addition to its spectacular worth motion — outperforming different large-cap belongings by a big 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 also be making its buying and selling debut quickly.
Grayscale Confirms GHYP Ticker For Hyperliquid ETF
On Friday, Might twenty second, Grayscale submitted the third modification to its spot HYPE ETF S-1 utility with america Securities and Alternate Fee (SEC). Based on 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 adjustments 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 could be getting nearer to launching its spot HYPE exchange-traded fund. This could carry 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 important quantities of the Hyperliquid native token over the previous week. On-chain knowledge exhibits that Grayscale purchased 682,190 HYPE (roughly $35 million) over the previous week.
HYPE Value 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 worth motion suggests the cryptocurrency could also be slowing down after a robust bullish run this week, with a transfer towards a brand new all-time excessive above $62.
Based on CoinGecko knowledge, the HYPE worth 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, using on the wave of surging quantity and institutional validation of the Hyperliquid platform.
The worth of HYPE on the every day timeframe | Supply: HYPEUSDT chart on TradingView
Featured picture created by DALL.E, chart from TradingView
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