Grayscale Adds BitGo as Custodian for Hyperliquid Staking ETF

Grayscale has filed an 8-K with the SEC to appoint BitGo Bank & Trust as an additional custodian for its Hyperliquid Staking ETF, which trades under the ticker HYPG. The change became effective on September 30, 2026, according to the October 5 filing.

The fund, which operates as a grantor trust, currently manages approximately $217.8 million in assets with 6.54 million shares outstanding. By diversifying its custody providers, the fund aims to reduce reliance on a single entity for the safekeeping of its HYPE holdings.

HYPG maintains a management fee of 0.29%, a rate established at the fund's launch to undercut competing products from 21Shares and Bitwise, which both charge 0.30%. The fund was declared effective by the SEC on June 2, 2026, and began trading on Nasdaq the following day.

A significant portion of the fund's assets are currently staked, with a staking ratio of approximately 88.66%. These holdings generate average gross staking rewards of 2.26%, though net returns for investors are typically lower after accounting for fees and network reward fluctuations.

The fund was originally launched as the Grayscale HYPE ETF before undergoing a name change on May 26, 2026. The underlying asset, HYPE, is the native token of the Hyperliquid network and has a maximum supply of 1 billion tokens, following an initial community airdrop in November 2024.