Grayscale Has Begun Frequently Updating an Altcoin’s Spot ETF Application: A Sign of an Upcoming Listing, According to a Bloomberg Analyst

Bloomberg ETF analyst James Seyffart announced that Grayscale has submitted its third S-1 amendment application to the U.S. Securities and Exchange Commission (SEC) for its proposed Hyperliquid ($HYPE) ETF.

According to Seyffart, if the ETF is approved and listed on the exchange, its ticker symbol will be GHYP. Grayscale’s latest update to the application process indicates that regulatory preparations for the $HYPE ETF are progressing.

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Seyffart noted that frequent file updates by issuers could be a signal that the launch is approaching. The analyst also stated that three different $HYPE ETFs might compete simultaneously on US exchanges in the future.

However, Hyperliquid has recently become one of the most talked-about altcoins in the cryptocurrency market. But yesterday’s announcement by the SEC that the plan to introduce tokenized stocks in the US has been postponed caused a drop in the token’s price. Despite this, $HYPE is still trading near its all-time high.

*This is not investment advice.

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