Grayscale Adds BitGo as Second Custodian for Hyperliquid ETF

Grayscale’s Hyperliquid Staking ETF has added BitGo Bank & Trust, National Association, as a custodian for some of its Hyperliquid (HYPE) holdings, creating a second custody option for the Nasdaq-listed trust.

The agreement is dated Sept. 30 and was disclosed in a Form 8-K signed Oct. 5. It allows BitGo to provide custody and safekeeping for HYPE held in a segregated account, separate from BitGo’s own assets and the digital assets of its other clients.

The filing does not specify how much HYPE Grayscale will place with BitGo or confirm that any tokens have been transferred. Grayscale will determine how much HYPE to hold with each custodian.

Anchorage Digital Bank remains the trust’s primary custodian, and its existing arrangement is unchanged. The new agreement describes a custody arrangement; it does not state that the trust’s staking activity has changed.

The trust trades on Nasdaq under the ticker HYPG and holds HYPE, the native asset of the Hyperliquid network. Its objective is to reflect the value of its HYPE holdings, including staking consideration when applicable, after expenses and liabilities. Shares represent beneficial interests in the trust and are not a direct investment in HYPE.