The change carries weight because Coinbase Custody Trust Company holds the underlying assets for nearly every U.S.-traded spot Bitcoin ETF.
Grayscale has submitted an amended filing for its proposed Hyperliquid exchange-traded fund, listing Anchorage Digital Bank as the fund's custodian in place of Coinbase. The updated application was filed with the U.S. Securities and Exchange Commission on Monday.
The
changecarries weight because Coinbase Custody Trust Company holds the underlying assets for nearly every U.S.-traded spot
BitcoinETF. Fidelity Digital Assets is the only major exception, managing custody for its own fund. Grayscale's Bitcoin and Ethereum trusts both use Coinbase as their primary custodian, though Anchorage was brought in as a secondary custodian for a portion of those holdings in August last year.
Anchorage Digital Bank was founded in 2017 and became the first federally chartered crypto bank in the United States. In recent months the firm has broadened its services to include stablecoin issuance support, wealth management, and token lifecycle management. Last month it became the first U.S.-based institution to onboard Tron following a regulatory inquiry into the network's founder, and it plans to launch Tron-staking products.
The proposed fund would hold
HYPE, the native token of Hyperliquid, which operates the largest on-chain perpetuals decentralized exchange by trading volume. Hyperliquid's derivatives platform is currently unavailable to U.S. users. The team behind the protocol recently established the Hyperliquid Policy Center, a Washington, D.C.-based lobbying group. Coinbase listed
