Grayscale Investments has filed trust registrations in Delaware for a BNB ETF and Hyperliquid ETF. These filings come filing an application for the exchange-traded fund with the SEC.
Grayscale Takes First Step for BNB and Hyperliquid ETF
According to filings on the Delaware website, the asset manager registered two new statutory trusts under CSC Delaware Trust Company. This is the first registration that always come before any registration made at the Federal level.
Despite the fact that these filings are not a guarantee for a public listing, they remain largely seen as the first step that asset managers take before they can proceed to deal with the relevant bodies. This reaffirms that Grayscale’s new digital assets outlook positions 2026 as a new era of institutions in the crypto market.
The funds consist of a potential spot BNB ETF and Hyperliquid ETF. This comes just after the firm’s large-cap fund, GDLC, was approved to trade on the NYSE. This holds SOL, ADA, and other large funds.
That’s happening at a time when changes is sweeping the BNB Chain. This was noted according to the fresh technological roadmap shared by the chain for 2026. Improvement would come in the form of confirmation times in sub-second speeds, as the chain is expected to extend this figure to tens of thousands of transactions per second.
The BNB ETF was a great addition but one that is particularly noteworthy is that of the Hyperliquid ETF. HYPE has shown significant prominence ever since its airdrop in 2024 and has remained quite resilient in times of market volatilty. It is currently the largest perp dex in the market.
Having gone through the volatility period, the system allegedly processed billions of dollars worth of liquidations without experiencing the outages that occurred on the centralized exchanges.
There has been some positivity concerning the emergence of crypto ETFs based on the success of the Grayscale XRP Trust. The cryptocurrency-based asset has witnessed consistent growth in assets under its management from the time of its launch without any appreciable outflows.
The expected bipartisan legislation on market structure that may expedite approval for products that are related to non-traditional crypto-assets.
Binance Coin and HYPE Expect Launch of First ETFs
The application that Grayscale recently submitted to the market is not the only one. Back in April of last year, VanEck applied for a BNB ETF. The company submitted applications linked to Hyperliquid connected to staking among others.
Bitwise has also amended its filing for its Hyperliquid ETF last month. It is considered by experts to be the closest to being launched.
However, 21Shares has pushed this even further with their filing for a leveraged product based on twice the daily performance of Hyperliquid’s index.