Grayscale Registers New HYPE and BNB ETFs in Delaware

Grayscale has registered a new ETF, the “Grayscale HYPE ETF,” as a Statutory Trust in Delaware, joining its already registered BNB ETF as potential future offerings.

These registrations suggest Grayscale’s preparation to expand its cryptocurrency ETF lineup, potentially increasing investor access to digital assets pending further regulatory approvals.

Grayscale’s Delaware ETFs Registration Sparks Interest

Grayscale Investments, a leading digital asset manager, has registered the Grayscale HYPE ETF and BNB ETF in Delaware, marking a new chapter in its market strategy. These entities operate as statutory trusts and include a registered agent, CSC Delaware Trust Company, for legal purposes.

Market changes are anticipated, though the full implications will depend on future SEC filings and approval. Currently, without detailed asset composition documents, specific impacts on individual cryptos remain speculative but are likely significant.

Reactions within the crypto community have been muted, with major players yet to comment on the registrations publicly. Any market moves will more likely occur post-SEC announcements or following a formal launch, should approval be granted.

BNB Price Trends and Potential Institutional Interest

Did you know? Registration of new ETFs like Grayscale’s tends to spark interest but often sees real market changes only post-SEC approval or launch, mirroring trends from other major asset managers.

Based on CoinMarketCap data, BNB’s current price stands at $900.80, with a market cap of $124.07 billion. Trading volume has decreased by 8.24% in the past 24 hours, and the price has changed by -0.26% in the same timeframe. Over the last 90 days, BNB experienced a 30.53% drop.

Insights from Coincu research suggest potential regulatory shifts may increase institutional interest in digital assets like BNB. If further approval is granted, the financial landscape for ETFs might adapt to encompass a wider array of cryptocurrencies.