Grayscale forms trusts tied to potential BNB and HYPE ETFs

Grayscale registered Delaware trusts linked to potential BNB and HYPE ETPs, an early step that often precedes but does not guarantee ETF filings.

Asset manager Grayscale has taken an early step toward expanding its crypto investment lineup by forming new Delaware statutory trusts tied to potential products linked to BNB and HYPE, according to state records.

According to Delaware records, the trusts were registered on Thursday. They list CSC Delaware Trust Company as their registered agent. Such trust formations are common preparatory steps for asset managers considering exchange-traded fund (ETF) launches before filing official applications at the US Securities and Exchange Commission, but they do not indicate any regulatory approvals or confirm that filings have been submitted. 

The inclusion of BNB (BNB) and Hyperliquid (HYPE) stands out, as most US-listed crypto ETFs tend to focus on Bitcoin (BTC) and Ether (ETH), with only a handful of altcoin-linked products gaining ground. 

Read more