Published: January 9, 2026
On January 8, 2026, Grayscale Investments quietly registered two new Delaware statutory trusts: one for BNB (Binance Coin) and another for Hyperliquid (HYPE) — marking the earliest formal step toward potential spot ETF products for these assets. The filings (BNB Trust: 10465871, HYPE Trust: 10465863) come under CSC Delaware Trust Company and follow Grayscale’s pattern with HBAR, AVAX, TAO, and other altcoins.
What the Delaware Trust Filings Actually Mean
Delaware statutory trusts are commonly used by ETF sponsors as a legal wrapper before submitting a full S-1 registration to the SEC.
- No S-1 has been filed yet (19b-4 & S-1 are still required)
- Trusts hold assets and outline structure for future shares
- Signal intent + early legal prep work
- Similar path used for Grayscale’s existing BTC/ETH trusts
BNB & HYPE – Why These Two Assets?
BNB (Binance Coin):
- Market cap #4–5, deep liquidity on Binance ecosystem
- Already has futures ETFs in some jurisdictions
- Regulatory clarity improving post-Binance settlement
Hyperliquid (HYPE):
- Only ~1 year old, but explosive growth in perpetual DEX volume
- High-profile choice shows Grayscale betting on newer Layer-1/DEX narratives
- Represents shift toward emerging high-throughput chains
Current Landscape of Altcoin ETF Filings (Jan 2026)
Competitive race intensifying:
- Grayscale now leading altcoin trust filings
- VanEck, 21Shares, Bitwise also active on SOL, XRP, ADA, etc.
- SEC review timeline: 6–18 months typical
- Recent regulatory softening (post-2025 election) improves odds
Potential Market Impact & Timeline
If approved (2026–2027):
- Increased institutional BNB & HYPE exposure
- Liquidity boost & reduced volatility over time
- Possible price premium during speculation phase
Realistic window: earliest approvals late 2026 / early 2027.
Conclusion
Grayscale’s new BNB and HYPE Delaware trusts filed on January 8, 2026 are early but meaningful steps toward altcoin spot ETFs. While no SEC application exists yet, the move reinforces Grayscale’s aggressive altcoin ETF strategy and signals growing institutional interest in high-throughput ecosystems. Traders should watch for S-1 filings, competitor moves, and regulatory tone shifts throughout 2026.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrency and ETF markets are highly volatile.
