You Won’t Believe Who’s Custodian for Grayscale’s Hyperliquid ETF! Spoiler: It’s Not Who You Think!

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Grayscale is shaking things up with its Hyperliquid ETF filing, and guess what? Anchorage Digital Bank is stepping into the limelight, while Coinbase plays the trusty sidekick in this crypto caper!

So, Grayscale just pulled a fast one and updated its Hyperliquid exchange-traded fund proposal. They’ve decided to play musical chairs with their custodians, naming Anchorage Digital Bank as the new custodian. But hold onto your wallets-last we checked, Coinbase was still wearing the custodian crown! And now everyone’s looking at this switch like it’s the newest plot twist in a soap opera!

Grayscale Update: The Custody Showdown Begins!

This change is like throwing a pie in the face of Coinbase, who’s been the heavyweight champion in the crypto ETF custody ring. A lot of funds are practically married to Coinbase for keeping their treasures safe. So, this move to Anchorage is like saying, “Hey, look over here! We’ve got competition!” It could shake up the whole ETF scene faster than a politician dodging questions!

NEW: Another amended Hyperliquid ETF filing, this one from… some guy eating a sandwich? More signs of movement between issuers and SEC. Buckle up, because you won’t believe who’s the custodian this time!

– James Seyffart (@JSeyff)

But wait! Current filings show that Coinbase Custody is still the head honcho for Grayscale’s ETF. On March 20, 2026, Grayscale threw its hat into the ring with its first S-1 filing to the Securities and Exchange Commission. Spoiler alert: it doesn’t even mention management fees! Just like my Aunt Edna’s mystery casserole-nobody knows what’s really in there!

Related Reading: HyperLiquid Whale Adds $3M to 30x BTC Short – Because Why Not?

Meanwhile, staking is a no-go at launch for Grayscale’s ETF product. But don’t worry, they’ve left the door open for future staking-like that one friend who promises to pay you back someday. They’re waiting for the regulatory fairy to sprinkle some magic dust and change the rules!

Now, let’s talk about Bitwise Asset Management-the cool kid on the block. They picked Anchorage Digital Bank as the custodian for their Hyperliquid ETF too. They submitted their second amended S-1 form faster than I can finish a slice of cheesecake on April 10, 2026. Talk about being quick on your feet!

Bitwise and Friends: Racing to Hyperliquid ETF Glory!

Bitwise’s Hyperliquid ETF, which goes by the snazzy ticker BHYP, is packing some punch with a management fee of just 0.67 per year. Plus, they’re letting you stake, keeping about 85% of the rewards after fees. It’s like winning the lottery but only if you play by their rules!

And there’s more! Bitwise is making friends with new trading counterparts like Flowdesk and Wintermute-because who doesn’t want more buddies to help boost liquidity and execution quality? They’re tightening their grip on the ever-expanding ETF market like a toddler holding onto their favorite toy!

The market is buzzing with excitement over investment products based on Hyperliquid! Four major players are in the ring: Grayscale, Bitwise, 21Shares, and VanEck. It’s like a reality show where everyone’s fighting to introduce a spot Hyperliquid ETF in the US!

Speaking of drama, 21Shares launched a passive token ETF tracking Hyperliquid late last year, while VanEck announced plans for an ETF product based on staking. It’s like a high-stakes poker game where everyone’s bluffing and trying to outsmart each other!

Grayscale is expanding its crypto product lineup under a more friendly regulatory umbrella. They’re dipping their toes into ETFs tied to other digital assets like Binance‘s BNB token and Zcash. Plus, they were one of the trailblazers with a Chainlink ETF product. Talk about being trendsetters!

In summary, this latest update signals a wild ride in the crypto ETF custody world. Coinbase might be the reigning champ, but Anchorage is making a splash! With rising competition, companies will keep juggling their strategies to catch investors’ eyes. Buckle up, folks-the Hyperliquid ETF approval race is turning into a full-blown marathon!

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2026-04-21 06:49