Main asset administration firm Grayscale has made an replace. $HYPE ETF (ticker: GHYP) has filed with the U.S. Securities and Change Fee (SEC) to designate Anchorage Digital as its custodian instead of Coinbase.
$HYPE ETF: Why Grayscale changed Coinbase with Anchorage Digital
Specifically, Grayscale has determined to interchange Coinbase with Anchorage Digital, primarily for aggressive, centralization, and regulatory causes.
When it comes to competitors, Hyperliquid ( $HYPE token) has turn out to be a notable competitor to Coinbase. Decentralized exchanges recorded a nominal derivatives buying and selling quantity of roughly $2.6 trillion from 2025 to early 2026. Coinbase, however, reported $1.4 trillion in the identical interval. Subsequently, these two are adversaries and have a battle of curiosity within the contract.
Second, regulators and issuers proceed to advertise custodian diversification to stop market monopolization and related monetary dangers. Coinbase already holds about 80% of the U.S. spot crypto ETF market.
Third, Anchorage Digital stands out in its compliance as it’s the solely federally chartered cryptocurrency financial institution in the USA. In distinction, Coinbase stays state regulated.
One more reason for the transfer was danger mitigation, which led BlackRock to decide on Anchorage as a secondary custodian for its Bitcoin and Ethereum trusts.
Moreover, Anchorage provides strong institutional staking providers. That is according to Grayscale’s plans to supply staking rewards on ETF merchandise, pending regulatory approval.
Competitor actions and $HYPE value
Grayscale opponents akin to 21Shares and Bitwise are additionally making the identical modifications for a similar causes.
At press time, $HYPE The token fell 0.23% to $41.03 as promoting stress elevated.
Supply: CoinMarketCap
Nevertheless, institutional curiosity and token burn are basically thought of to be massive positives for the ecosystem. The group can also be excited concerning the upcoming HIP-4 improve for prediction markets. $HYPEvalue to the next degree.
