Grayscale plans to provide $115 million in seed funding for ETF with 2 million HYPE tokens

According to Finance Feeds, Grayscale is in talks with Hyper Holdings Global LP to sell its proposed Hyperliquid ETF shares in exchange for approximately 2 million HYPE tokens, valued at approximately $115 million at current prices, as seed capital for the fund before going public. Grayscale will rename the product as "Grayscale Hyperliquid Staking ETF" and plan to list it on NASDAQ under the code HYPG, with the addition of staking function to distinguish it from spot ETFs.