Grayscale Investments has chosen BitGo Bank & Trust as an additional custodian for its Grayscale Hyperliquid Staking ETF, which trades under the ticker HYPG. This update was disclosed in an amendment filed with the US Securities and Exchange Commission on October 5. The filing adds two BitGo custody agreements to the ETF’s registration statement. HYPG holds HYPE, the native token of the Hyperliquid network, and is set up to stake some of those tokens to earn possible rewards.
Source: sec.gov
Grayscale filed Post-Effective Amendment No. 1 to the fund’s Form S-1 registration statement. The SEC approved the filing immediately after receiving it, following Rule 462(d) of the Securities Act of 1933.
The first new document is an updated BitGo Custodial Services Agreement, dated June 5, 2026. It is between BitGo Bank & Trust and Grayscale Investments Sponsors, the ETF’s sponsor. The second document is an amendment to that custody agreement, dated September 29, 2026.
Grayscale explained that the amendment was mainly to include these documents in the ETF’s registration statement. It did not change any other main parts of the filing.
The document does not specify how much of HYPG’s HYPE holdings will be kept with BitGo. It also does not provide details on how the fund’s assets will be split among its custodians.
HYPG launched on Nasdaq on June 3, 2026, after the SEC approved its registration statement on June 2. When it started, the ETF had a management fee of 0.29%.
HYPG stands out from basic crypto investment products because of its staking strategy. The ETF does more than just track the price of HYPE. It can also join Hyperliquid’s native staking system and possibly earn staking rewards.
At launch, Grayscale reported that past HYPE staking rewards averaged about 2.2% per year, based on data from May 1, 2025, to April 21, 2026. The company also said that staking rewards are not guaranteed and can change with network conditions.
BitGo’s addition comes as more investment products tied to HYPE are entering the US market. 21Shares launched its Hyperliquid product first, followed by Bitwise and then Grayscale.
BitGo already has some infrastructure connected to Hyperliquid. In September, the company said eligible customers could connect their self-custody hot wallets to Hyperliquid through WalletConnect and access perpetual markets while keeping their existing wallet approval controls.
For Grayscale, this latest filing does not make a major change to the ETF. Instead, it gives investors more details about how the fund’s HYPE holdings are managed.
Custody is especially important for an ETF that stakes its crypto assets. The custodian must handle both the safe storage of tokens and the operational needs of staking.
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