Grayscale Files Fourth Amendment for Hyperliquid ETF, Adds 2M HYPE Seed Capital

According to Bloomberg ETF analyst James Seyffart, Grayscale has filed a fourth amendment for its Hyperliquid ETF, HYPG, featuring a potential seed capital arrangement involving approximately 2 million HYPE tokens, valued at nearly $113 million. Hyper Holdings Global LP would acquire trust shares through an authorized participant in exchange for the HYPE tokens; discussions remain non-binding.

Bitwise's HYPE ETF, BHYP, has attracted strong institutional interest with $62.9 million in assets under management and $56.9 million in total inflows. Hyperliquid processed $2.9 trillion in perpetual futures volume during 2025 and maintains $7 billion in open interest.