Overview
- The planned fund is a Delaware statutory trust that would passively track HYPE’s price and could include staking exposure if permitted by regulators.
- The filing specifies no leverage or derivatives and details standard ETF creation and redemption through authorized participants for HYPE or cash equivalents.
- Coinbase Custody and BitGo are designated to safeguard the fund’s digital assets in cold storage.
- The move follows Bitwise’s September HYPE ETF proposal, with reports noting other issuers exploring similar products as crypto ETF competition intensifies.
- SEC approval is not yet granted as the agency reviews a large slate of crypto ETF applications, and the filing arrives a week after 21Shares agreed to be acquired by FalconX.