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

Odaily Grayscale has updated its ETF application documents 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) use its custody services.

The documents show that The Bank of New York Mellon will still serve as the transfer agent for this ETF (proposed ticker GHYP). The fund's staking functionality still requires regulatory approval and will use 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)