Key Takeaways
- • Grayscale has added BitGo Bank & Trust as an additional custodian for a portion of the HYPE held by its Grayscale Hyperliquid Staking ETF (HYPG), according to a filing with the U.S. SEC.
- • The amendment to BitGo's custody agreement was entered into on September 30, 2026, and was disclosed in a Form 8-K filed around October 8, 2026.
- • Anchorage Digital Bank remains the primary custodian for the fund, with BitGo serving as a secondary custodian.
- • The filing did not disclose how much HYPE will be placed with BitGo, and the fund reportedly held about $217.8 million in assets at the time of the filing.
Summary
Grayscale has selected BitGo Bank & Trust as an additional custodian for part of the HYPE held by its Grayscale Hyperliquid Staking ETF (HYPG), according to a filing submitted to the U.S. Securities and Exchange Commission. Under the filing, BitGo will provide custody and safekeeping services for a portion of the fund's HYPE holdings. The fund became a party to an amendment to BitGo Bank & Trust's custody agreement on September 30, 2026, which added the trust as an additional custodian.
The disclosure was made through an 8-K filing, as reported by multiple outlets. Grayscale's 8-K reportedly referenced HYPG holding approximately $217.8 million in assets. Anchorage Digital Bank remains the fund's primary custodian. The filing did not specify what share of the fund's HYPE would be held with BitGo.
The fund is solely and passively invested in HYPE, with an investment objective of reflecting the value of HYPE held by the trust. The fund is an exchange-traded product that is not registered under the Investment Company Act of 1940.
Adding a second custodian is a standard operational step for digital asset products, as it diversifies counterparty and custody risk. Coverage of the filing also noted that Grayscale previously moved away from Coinbase for this product, with Anchorage and now BitGo handling custody. Grayscale's Bitcoin and Ethereum trusts continue to use Coinbase as their primary custodian.
The disclosure was made through an 8-K filing, as reported by multiple outlets. Grayscale's 8-K reportedly referenced HYPG holding approximately $217.8 million in assets. Anchorage Digital Bank remains the fund's primary custodian. The filing did not specify what share of the fund's HYPE would be held with BitGo.
The fund is solely and passively invested in HYPE, with an investment objective of reflecting the value of HYPE held by the trust. The fund is an exchange-traded product that is not registered under the Investment Company Act of 1940.
Adding a second custodian is a standard operational step for digital asset products, as it diversifies counterparty and custody risk. Coverage of the filing also noted that Grayscale previously moved away from Coinbase for this product, with Anchorage and now BitGo handling custody. Grayscale's Bitcoin and Ethereum trusts continue to use Coinbase as their primary custodian.
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