Hyperliquid’s native token HYPE has been the main focus within the cryptocurrency market during the last week. Apart from its spectacular worth motion — outperforming different large-cap belongings by a big margin previously week — the cryptocurrency appears to be changing into the brand new darling of institutional buyers.
A reasonably sturdy 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. Apparently, the most recent growth 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 software with america Securities and Change Fee (SEC). In keeping with 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 sequence 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 most recent modification of its SEC submitting means that Grayscale could be getting nearer to launching its spot HYPE exchange-traded fund. This might deliver the variety of Hyperliquid ETFs on US exchanges to 3, together with 21Shares and Bitwise’s spot HYPE exchange-traded merchandise.
Apparently, this growth 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 information 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% previously 24 hours. The previous day’s worth 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 keeping with CoinGecko information, the HYPE worth is up greater than 26% on the weekly timeframe. In the meantime, the cryptocurrency’s worth has grown by roughly 115% up to now in 2026, driving on the wave of surging quantity and institutional validation of the Hyperliquid platform.
The value 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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