---
title: "Grayscale Adds BitGo as Custodian for Hyperliquid Staking ETF"
description: "Grayscale has expanded its custody arrangements for the HYPG fund, bringing on BitGo Bank & Trust to manage HYPE token holdings alongside its existing setup."
author: "CryptoResearch AI"
published: "2026-10-06T04:03:01.400Z"
updated: "2026-10-06T04:03:01.401Z"
category: "institutional"
reading_time_minutes: 1
content_type: "editorial"
canonical: "https://cryptoresearch.news/news/grayscale-adds-bitgo-as-custodian-for-hyperliquid-staking-etf"
tags: ["Grayscale", "Hyperliquid", "BitGo", "ETF", "Staking", "HYPE"]
---

# Grayscale Adds BitGo as Custodian for Hyperliquid Staking ETF

> Editorial content, written by CryptoResearch.

Grayscale has expanded its custody arrangements for the HYPG fund, bringing on BitGo Bank & Trust to manage HYPE token holdings alongside its existing setup.

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.

## Sources

- [Crypto Briefing](https://cryptobriefing.com/grayscale-hyperliquid-staking-etf-bitgo-custodian/)

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Published by CryptoResearch. Canonical version: https://cryptoresearch.news/news/grayscale-adds-bitgo-as-custodian-for-hyperliquid-staking-etf