The digital asset manager Grayscale, which oversees approximately 35 billion dollars, has initiated legal procedures for the launch of new crypto ETFs. On January 8, the firm registered statutory trusts for BNB and Hyperliquid (HYPE) with the Delaware Division of Corporations.
This administrative step is the necessary precursor before submitting formal applications to the Securities and Exchange Commission (SEC). The company seeks to expand its investment catalog toward assets previously considered outside its conservative reach. Likewise, this strategy responds to growing competition from other managers like VanEck in the sector.
Kamina Bashir reported that Grayscale’s next move will be filing the S-1 registration statement with the SEC. This document will detail the fund structure, risk factors, and the specific investment strategy for each token. The approval process has been simplified thanks to new generic listing standards for digital assets.
For this reason, managers no longer require specific rule changes for each individual crypto-asset. In this way, the market expects greater agility in these financial products arriving at U.S. exchanges. Furthermore, this move positions HYPE as the youngest asset to enter Grayscale’s ecosystem.
On the other hand, the inclusion of Hyperliquid breaks the firm’s historical pattern of selecting assets with decades of history. HYPE has been operational for just over a year, representing a significant shift toward early-stage infrastructures.
BNB’s resilience in the market has also been a key factor in accelerating these ETF applications. Therefore, Grayscale competes directly with VanEck to capture institutional investor interest in the Binance ecosystem. Nonetheless, both assets currently face different challenges regarding their price performance and network adoption.
What impact will the arrival of these funds have on the liquidity of BNB and Hyperliquid?
Institutional capital entry typically stabilizes volatility and increases market depth for underlying assets. The launch of new crypto ETFs will make it easier for traditional investors to access BNB exposure without managing private wallets.
The diversified portfolios of major managers could absorb a significant part of the circulating supply of these tokens. Hence, the altcoin market will experience a renewed boost if the SEC grants final approvals. It is also important to highlight that Grayscale already has nine active funds, including Bitcoin, Ethereum, and Solana.
The cryptocurrencies selected for these new products have shown divergent behaviors in recent trading sessions. While BNB trades near 892 dollars with a slight upward trend, HYPE has recently suffered a 2.50% correction. The strength of Layer 1 networks remains the main driver of demand for these investment vehicles.
In this way, the digital financial ecosystem becomes more accessible for pension funds and retirement accounts. Therefore, perspectives for 2026 suggest that the altcoin ETF offering will diversify much further than the main assets.
