Grayscale Eyes $115M HYPE Token Seed for Hyperliquid ETF!

Grayscale is in negotiations to seed its proposed Hyperliquid ETF with roughly $115 million in HYPE tokens, a move that would mark one of the largest institutional commitments to the Hyperliquid ecosystem to date. The seed investment structure is a standard pre-launch mechanism for ETF products, but the dollar figure signals serious conviction from one of crypto's most established asset managers.

Hyperliquid has emerged as a standout in the decentralized perpetuals space, with its native HYPE token gaining traction among both retail and institutional observers. A Grayscale-backed ETF wrapper would bring that exposure to a broader class of investors who prefer regulated, custodied products over direct on-chain access.