Core Insights - Grayscale is initiating the launch of exchange-traded funds (ETFs) for BNB and Hyperliquid, having filed statutory trusts with the Delaware Division of Corporations, a necessary step before formal ETF applications to the SEC [1][2] Group 1: ETF Registration and Filing Process - Grayscale registered the statutory trusts for BNB and HYPE on January 8, with specific file numbers assigned for each trust [2] - The next step for Grayscale will likely involve filing a registration statement (S-1) with the SEC, detailing the ETF's structure, investment strategy, and regulatory requirements [3] Group 2: Market Context and Competitors - The SEC's approval of generic listing standards for crypto ETFs has simplified the listing process for qualifying products, eliminating the need for asset-specific rule changes [4] - Grayscale's move aligns it with VanEck, which has also filed for a spot BNB ETF and plans to launch an ETF tied to Hyperliquid's HYPE token [5] Group 3: Strategic Shift and Historical Context - The registration of a HYPE ETF marks a significant shift in Grayscale's approach, as it typically selects older assets for its products, with HYPE being relatively new at around one year old [5][6] - Grayscale currently has nine live crypto-focused ETFs, providing exposure to major cryptocurrencies like Bitcoin and Ethereum, and has filed for additional altcoin ETFs [6] Group 4: Market Performance - Both BNB and HYPE are facing market challenges, but BNB has shown resilience, trading at $892 with a 0.84% increase over the past 24 hours [8]

ETF Filings and Launches - 21Shares files S-1 with the SEC to launch a $HYPE ETF [1] - Bitwise's Solana Staking ETF sees $72 million volume on day 2 [1] Altcoin ETF Market - The market may see stronger than expected appetite for altcoin ETFs [1]

ETF Filings - 21Shares filed for a Hyperliquid ETF [1] - 21Shares is the second issuer to file for a HYPE ETF, following Bitwise [1]

Market Trends - A potential $1 Billion XRP purchase could stimulate an altcoin rally [1] - Charles Schwab is set to introduce crypto trading [1] - 21Shares files for 2x long HYPE ETF [1] Cryptocurrency Holdings - Treasuries and ETFs collectively hold 10.31% of ETH's supply [1] Bitcoin Performance - Bitcoin experienced its first red October since 2018 [1]

ETF Filing - Bitwise files S-1 for a spot HYPE ETF [1]