{
 "as_of": "2026-11-08",
 "cmr": "us-cm-kg/NASDAQ/HYPG",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# Grayscale Hyperliquid Staking ETF (NASDAQ: HYPG) — research page\n\nAs of 2026-11-08 · us-cm-kg · record version 1\n\n## Identity and listing\n\nGrayscale Hyperliquid Staking ETF is listed on NASDAQ under ticker HYPG, with ISIN US3899361055. The record holds no LEI for the issuer, as no GLEIF record matches the exact legal name in jurisdiction US-DE. Its security type is fund or trust, sector 6221 Commodity Contracts Brokers & Dealers, jurisdiction United States, Delaware, and segment is not on the record. Its listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 16 filings in the twelve months to 2026-11-08, across 13 filing days. The median gap between filing days is 8.0 days, against a NASDAQ median of 6.0 days and a sector median of 17.0 days. The latest filing is dated 2026-10-06 and is a prospectus, 33 days before the record date. The NASDAQ median latency is 5.0 days and the sector median latency is 5 days.\n\n## Auditor\n\nThe auditor of record is not on the record, as the latest annual report cover carries no auditor name tag, and its location is not on the record. The record holds no auditor changes.\n\n## Events and halts\n\nThe record holds two listing lines, both dated 2026-05-27, and no delisting, name change or segment move. The domicile change is not on the record. The halt flag is listed, not halted.\n\n## Orderability\n\nThe outcome is not determinable for this issuer because the chapter's orderability section names no client category. The rule version is acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nNo research houses were found on the issuer's investor-relations pages read, and the count is zero.\n\n## Open research\n\nNo openly published research notes were found on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe record holds sealed filings for the issuer for the year 2026. The market's earliest sealed date is 2021-01-04, and the live record began on 2026-09-12.\n\n## Sources\n\n7 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.sec.gov/files/company_tickers_exchange.json (identity.exchange)\n- https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data (identity.isin)\n- https://data.sec.gov/submissions/CIK0002107730.json (identity.jurisdiction)\n- https://mcp.us-cm-kg.ai/events/NASDAQ/HYPG (the disclosure lines)\n- https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts (the halt flag)\n- https://mcp.us-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://mcp.us-cm-kg.ai/record/NASDAQ/HYPG (the record)\n",
 "market": "US",
 "node": "us-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [
    "2026"
   ],
   "live_record_began": "2026-09-12",
   "node_history_from": "2021-01-04",
   "node_years_sealed": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ],
   "record_version": 1,
   "sealed": true
  },
  "auditor": {
   "auditor": {
    "market": "US",
    "reason": "no dei:AuditorName tag on the latest annual report cover (foreign private issuers and older filings carry none)",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "US",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "US",
    "state": "not_on_record"
   },
   "changes": []
  },
  "cmr": "us-cm-kg/NASDAQ/HYPG",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [
    {
     "page": "https://research.grayscale.com/reports/hyperliquid-breaks-the-mold-product",
     "result": "not readable by this rail (429)"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-11",
   "since": null,
   "state": "none_found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 4359,
     "median_cadence_gap_days": 6,
     "median_filings": 52,
     "median_latency_days": 5,
     "name": "NASDAQ"
    },
    "sector": {
     "issuers": 137,
     "median_cadence_gap_days": 17,
     "median_filings": 16,
     "median_latency_days": 5,
     "name": "6221 Commodity Contracts Brokers & Dealers"
    }
   },
   "by_type": {
    "corporate_news": 1,
    "director_change": 1,
    "prospectus": 9,
    "regulatory_filing": 4,
    "results": 1
   },
   "cadence_median_gap_days": 8,
   "filing_days": 13,
   "filings": 16,
   "latency_days": 33,
   "latest": [
    {
     "category": "424B3",
     "date": "2026-10-06",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000119312526414523/hypg_424b3_secondary_cus.htm",
     "title": "424B3 — 424B3",
     "type": "prospectus"
    },
    {
     "category": "POS EX",
     "date": "2026-10-05",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000119312526414311/hypg_pos_ex_1.htm",
     "title": "POS EX — POS EX",
     "type": "regulatory_filing"
    },
    {
     "category": "8-K",
     "date": "2026-10-05",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000119312526414237/ck0002107730-20260930.htm",
     "title": "8-K — 8-K (items 1.01,9.01)",
     "type": "corporate_news"
    },
    {
     "category": "10-Q",
     "date": "2026-08-07",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000210773026000007/ck0002107730-20260630.htm",
     "title": "10-Q — 10-Q",
     "type": "results"
    },
    {
     "category": "8-K",
     "date": "2026-07-02",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000210773026000004/ck0002107730-20260626.htm",
     "title": "8-K — 8-K (items 5.02)",
     "type": "director_change"
    }
   ],
   "latest_filing_date": "2026-10-06",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.us-cm-kg.ai/events/NASDAQ/HYPG",
   "window": {
    "from": "2025-11-08",
    "to": "2026-11-08"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "NASDAQ"
   },
   "isin": {
    "read_by": "SEC Fails-to-Deliver data (CUSIP for the symbol) · ISIN = US + CUSIP + ISO 6166 check digit",
    "read_date": "2026-10-06",
    "read_date_basis": "last_seen",
    "source": "https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data",
    "state": "sourced",
    "value": "US3899361055"
   },
   "jurisdiction": {
    "read_by": "EDGAR submissions API (issuer header as filed) (stateOfIncorporation)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002107730.json",
    "state": "sourced",
    "value": "United States — Delaware"
   },
   "lei": {
    "market": "US",
    "reason": "no GLEIF record with the exact legal name in jurisdiction US-DE",
    "state": "not_on_record"
   },
   "name": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002107730.json",
    "state": "sourced",
    "value": "Grayscale Hyperliquid Staking ETF"
   },
   "sector": {
    "read_by": "EDGAR submissions API (issuer header as filed) (SIC code as assigned by the SEC)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002107730.json",
    "state": "sourced",
    "value": "6221 Commodity Contracts Brokers & Dealers"
   },
   "security_type": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0002107730.json",
    "state": "sourced",
    "value": "Fund / trust (by SIC or name)"
   },
   "segment": {
    "market": "US",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "HYPG"
   },
   "website": {
    "market": "US",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": [],
   "domicile_change": {
    "market": "US",
    "reason": "EDGAR states no dated change of state of incorporation on a filing line",
    "state": "not_on_record"
   },
   "listing": [
    {
     "date": "2026-05-27",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000119312526241147/hype_form_8-a12b.htm",
     "title": "8-A12B — 8-A12B"
    },
    {
     "date": "2026-05-27",
     "source": "https://www.sec.gov/Archives/edgar/data/2107730/000135445726000500/HYPG_8A_Cert.pdf",
     "title": "CERT"
    }
   ],
   "name_change": [],
   "segment_move": {
    "market": "US",
    "reason": "the exchanges' tier transfers are not EDGAR filings",
    "state": "not_on_record"
   }
  },
  "market": "US",
  "node": "us-cm-kg",
  "numbers_hash": "sha256:7336f2eb42aea2f15fcbefa95e40a88950a2dfbc0ab2c2bd2aa834b740ff5439",
  "open_research": {
   "read_date": "2026-11-11",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [],
   "determinable": false,
   "read": {
    "chapter": "https://mcp.us-cm-kg.ai/book/aio.json",
    "door": "https://mcp.us-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1",
   "section": "us.aio.v8"
  },
  "record": {
   "as_of": "2026-11-08",
   "url": "https://mcp.us-cm-kg.ai/record/NASDAQ/HYPG",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:7336f2eb42aea2f15fcbefa95e40a88950a2dfbc0ab2c2bd2aa834b740ff5439",
 "path": "/us/NASDAQ/HYPG",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "Grayscale Hyperliquid Staking ETF is listed on NASDAQ under ticker HYPG, with ISIN US3899361055. The record holds no LEI for the issuer, as no GLEIF record matches the exact legal name in jurisdiction US-DE. Its security type is fund or trust, sector 6221 Commodity Contracts Brokers & Dealers, jurisdiction United States, Delaware, and segment is not on the record. Its listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 16 filings in the twelve months to 2026-11-08, across 13 filing days. The median gap between filing days is 8.0 days, against a NASDAQ median of 6.0 days and a sector median of 17.0 days. The latest filing is dated 2026-10-06 and is a prospectus, 33 days before the record date. The NASDAQ median latency is 5.0 days and the sector median latency is 5 days.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is not on the record, as the latest annual report cover carries no auditor name tag, and its location is not on the record. The record holds no auditor changes.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The record holds two listing lines, both dated 2026-05-27, and no delisting, name change or segment move. The domicile change is not on the record. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable for this issuer because the chapter's orderability section names no client category. The rule version is acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "No research houses were found on the issuer's investor-relations pages read, and the count is zero.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The record holds sealed filings for the issuer for the year 2026. The market's earliest sealed date is 2021-01-04, and the live record began on 2026-09-12.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "7 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.sec.gov/files/company_tickers_exchange.json"
  },
  {
   "for": "identity.isin",
   "source": "https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://data.sec.gov/submissions/CIK0002107730.json"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.us-cm-kg.ai/events/NASDAQ/HYPG"
  },
  {
   "for": "the halt flag",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.us-cm-kg.ai/book/aio.json"
  },
  {
   "for": "the record",
   "source": "https://mcp.us-cm-kg.ai/record/NASDAQ/HYPG"
  }
 ],
 "title": "Grayscale Hyperliquid Staking ETF (HYPG) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}