Grayscale Investments has achieved a significant regulatory milestone after the U.S. Securities and Exchange Commission (SEC) declared the registration statement for its Hyperliquid Staking ETF effective. The approval brings the investment product one step closer to officially launching on the Nasdaq exchange.
According to the SEC’s Notice of Effectiveness, the registration statement became effective at 4:00 p.m. ET on June 2, 2026. The filing was subsequently accepted by the SEC’s EDGAR database on June 3, marking another key step toward the ETF’s market debut.
In recent weeks, Grayscale submitted multiple amendments to its registration documents as it worked to satisfy regulatory requirements. The SEC’s approval confirms that the revised filings met the agency’s standards, clearing the way for the next phase of the launch process.
Alongside the approval, Grayscale filed its final prospectus with the SEC. The document outlines important details regarding the fund’s investment objectives, structure, fees, and operational strategy. The ETF is expected to trade under the ticker symbol “HYPG” on Nasdaq.
The Hyperliquid Staking ETF is designed to provide investors with exposure to Hyperliquid’s native cryptocurrency, HYPE. In addition to tracking the token’s performance, the fund will participate in staking activities, allowing a portion of its HYPE holdings to generate staking rewards that benefit the trust.
The SEC’s effectiveness notice and the submission of the final prospectus represent crucial regulatory requirements before the ETF can begin trading publicly. The development follows Nasdaq’s previous certification approving the ETF’s listing on the exchange.
Earlier this week, Bloomberg ETF analyst James Seyffart suggested that the launch could be imminent after Grayscale submitted its sixth amendment related to the HYPE ETF. Seyffart noted that the latest filing indicated the product was nearing completion of the regulatory process.
The final prospectus also revealed that the ETF will carry a management fee of 0.29%, making it slightly cheaper than competing Hyperliquid-related ETF products. Comparable offerings from Bitwise and 21Shares currently charge management fees of 0.34% and 0.30%, respectively.
While the management fee has been disclosed, it remains unclear whether any additional costs will be associated with the fund’s staking activities. The prospectus further indicates that approximately 2 million HYPE tokens will be used as seed capital for the ETF. Based on current market prices, those holdings are valued at roughly $146 million.
The approval arrives shortly after Grayscale expanded its exposure to Hyperliquid through the purchase of millions of dollars worth of HYPE tokens, reinforcing the firm’s commitment to the growing digital asset ecosystem.
