Grayscale HYPE and BNB ETF register on the same day, institutional layout signals new developments in crypto

Grayscale completes the registration of two new ETF products within one day. According to the latest news, the Delaware Secretary of State business registration information shows that both the Grayscale HYPE ETF and the Grayscale BNB ETF were officially registered on January 8, 2026. The registered agent for both products is CSC DELAWARE TRUST COMPANY, with a registered address in Wilmington. This move sends a clear signal: Grayscale is accelerating the launch of compliant crypto investment tools to meet the growing allocation needs of institutional investors.

Grayscale’s ETF Expansion Map

Rapid iteration of product matrix

Grayscale has been very active recently. According to relevant information, besides these two newly registered ETFs, Grayscale also operates several mature crypto investment products:

• ETHE (Ethereum Trust ETF): The first spot cryptocurrency ETF in the US to distribute Ethereum staking rewards to shareholders, with a reward of $0.083178 per share
• Smart Contract Fund (GSC Fund): Holds multiple projects including ADA, with ADA accounting for 18.55%
• DeFi Fund (DEFG) and AI Fund: Completed reconfiguration of fund components in Q4
• Walrus Trust: Provides traditional institutional investors with compliant tools to participate in the Web3 storage ecosystem

The expansion logic of this product matrix is quite clear: Grayscale is covering niche segments of the crypto market with different themed ETFs, from single tokens (BNB) to conceptual themes (HYPE, DeFi, AI), and to specific ecosystems (Walrus).

Why register in Delaware?

Registering in Delaware has special significance for crypto financial products. This traditional US corporate registration location has become a primary registration hub for crypto funds and trust products in recent years. Registering as a “Statutory Trust” means these products have a clear legal status, facilitating subsequent SEC approval and compliant operation. In other words, Grayscale is paving the way for these products to go public officially.

Facilitating Institutional Entry into Crypto

The value of compliant tools

From Grayscale’s actions, a larger trend can be observed: the barriers for traditional institutional investors to enter the crypto market are continuously decreasing.

According to relevant information, after the launch of the Grayscale Walrus Trust, it provides an easy indirect entry path for traditional financial institutions like Franklin D. Roosevelt. Similar logic is being replicated for themes like BNB and HYPE. The common features of these ETFs and trust products are:

• No need for investors to handle custody and security issues themselves
• Participation through brokerage accounts
• Clear legal status and regulatory framework
• Some products already offer additional yields such as staking rewards

Market size signals

Performance data of Ethereum spot ETFs also confirms this. According to relevant information, as of January 7, the total net asset value of Ethereum spot ETFs reached $19.314 billion, with an ETF net asset ratio of 5.1%, and a cumulative net inflow of $12.687 billion. Although ETHE experienced a single-day net outflow of $52.0466 million on January 7, the overall trend indicates continuous institutional inflows into such products.

Potential Market Impact

Short-term: Increased product supply

The completion of registration for the HYPE ETF and BNB ETF means these products may receive SEC approval and be officially listed in the near future. Once listed, they will provide standardized investment tools for institutional investors interested in BNB or participating in the so-called “HYPE” theme (which may include popular new tokens or specific concepts).

Long-term: Ecosystem maturity enhancement

From single tokens (BTC, ETH) to thematic funds (DeFi, AI, Smart Contract), and then to ecosystem trusts (Walrus), Grayscale’s product evolution reflects the segmentation and differentiation of the crypto market in the eyes of institutions. This multi-layered product supply essentially helps traditional capital understand and participate in different dimensions of the crypto ecosystem.

Summary

Grayscale’s registration of the HYPE and BNB ETFs on the same day is not an isolated product launch but part of its accelerated deployment of compliant crypto investment tools. The underlying logic is clear: the demand for crypto asset allocation from institutional investors is growing, and compliant tools are key to meeting this demand. As more such products are launched and listed, the channels for institutional capital to enter the crypto market will further expand. Although this process may face regulatory changes, the registration data indicates that Grayscale is clearly preparing for long-term strategic layout.