Grayscale Submits S-1 for Spot HYPE ETF (GHYP) as HYPE Enters Crypto Top 10

Grayscale Investments filed a Form S-1 with the SEC on March 20 to launch a spot ETF tied to HYPE, proposing a Nasdaq listing under the ticker GHYP. By March 21, HYPE was near $39.68 after trading under $30 in early March, lifting its market cap to about $10.2 billion and placing it 10th on CoinMarketCap. The filing comes as other issuers have also proposed HYPE ETFs, while any approval remains pending and subject to a review window of up to 240 days.