Grayscale Revises Hyperliquid ETF Application: Changes Custodian to Anchorage Digital Bank, Removes Coinbase

Odaily News Grayscale has updated its ETF application document linked to Hyperliquid, changing the custodian to Anchorage Digital Bank, replacing Coinbase which previously served as the prime broker and custodian.

This adjustment has garnered significant attention, as Coinbase has long dominated the crypto ETF custody space. Currently, almost all U.S. spot Bitcoin ETFs (except Fidelity's) rely on its custody services.

The filing shows that The Bank of New York Mellon will continue to serve as the transfer agent for this ETF (proposed ticker GHYP). The fund's staking functionality still requires regulatory approval and will utilize CoinDesk's Hyperliquid benchmark pricing data.

Furthermore, Anchorage Digital Bank, as the first federally chartered crypto bank in the U.S., has been continuously expanding its institutional service capabilities in recent years, including areas such as stablecoins, wealth management, and token lifecycle management. (The Block)