Key Takeaways
- • Grayscale filed a Form 8-K on October 5, 2026, adding BitGo Bank & Trust as an additional custodian for its Hyperliquid Staking ETF (HYPG), effective September 30, 2026, while Anchorage Digital remains the primary custodian.
- • HYPG holds approximately $217.8 million in assets under management with 6.54 million shares outstanding and charges a competitive 0.29% management fee.
- • The fund maintains approximately 88.66% of assets in staked HYPE tokens, generating average gross staking rewards of 2.26%, though net yields to investors are lower after fee deduction.
- • HYPG was renamed on May 26, 2026, from the Grayscale HYPE ETF to align with Hyperliquid branding; the SEC declared it effective on June 2, 2026, with Nasdaq trading commencing June 3, 2026.
- • HYPE, the native token of the Hyperliquid network with a 1 billion token maximum supply, was distributed via community airdrop in November 2024.
Summary
Grayscale disclosed in an SEC Form 8-K filing that BitGo Bank & Trust has been appointed as an additional custodian for its Hyperliquid Staking ETF (HYPG), effective September 30, 2026. The filing, dated October 5, 2026, represents a material custody arrangement amendment for the fund. BitGo will hold a portion of the trust's HYPE tokens alongside the existing primary custodian, Anchorage Digital, enhancing the redundancy and security infrastructure supporting the fund's digital asset holdings.
At the time of filing, HYPG managed approximately $217.8 million in assets with 6.54 million shares outstanding. The fund's 0.29% management fee remains among the lowest in the U.S. HYPE exchange-traded product market since its launch. The fund's staking strategy positions approximately 88.66% of assets in staked HYPE tokens, which generate average gross staking rewards of 2.26%. Net returns to investors fall below this figure after management fees are deducted.
HYPG has completed a rapid development cycle since inception. Originally launched as the Grayscale HYPE ETF, the fund was renamed on May 26, 2026, to strengthen its alignment with Hyperliquid's core branding. The SEC declared the fund effective on June 2, 2026, with trading commencing on Nasdaq the following day, June 3, 2026. The fund operates as a grantor trust structure, meaning investors hold direct interests in underlying HYPE token assets rather than shares in an operating entity.
HYPE, the native token powering the Hyperliquid network, has a fixed maximum supply of 1 billion tokens and was distributed through a community airdrop in November 2024. The addition of BitGo as a custodian reflects growing institutional infrastructure development around the token and staking ecosystem.
At the time of filing, HYPG managed approximately $217.8 million in assets with 6.54 million shares outstanding. The fund's 0.29% management fee remains among the lowest in the U.S. HYPE exchange-traded product market since its launch. The fund's staking strategy positions approximately 88.66% of assets in staked HYPE tokens, which generate average gross staking rewards of 2.26%. Net returns to investors fall below this figure after management fees are deducted.
HYPG has completed a rapid development cycle since inception. Originally launched as the Grayscale HYPE ETF, the fund was renamed on May 26, 2026, to strengthen its alignment with Hyperliquid's core branding. The SEC declared the fund effective on June 2, 2026, with trading commencing on Nasdaq the following day, June 3, 2026. The fund operates as a grantor trust structure, meaning investors hold direct interests in underlying HYPE token assets rather than shares in an operating entity.
HYPE, the native token powering the Hyperliquid network, has a fixed maximum supply of 1 billion tokens and was distributed through a community airdrop in November 2024. The addition of BitGo as a custodian reflects growing institutional infrastructure development around the token and staking ecosystem.
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