Hyperliquid $HYPE doesn't follow Wall Street's rules. 24/7 trading and perpetual futures with no expiry. Grayscale's Krista Lynch joined @FINTECHTVglobal at the NYSE to share more about $HYPG, the Largest Hyperliquid Staking ETP¹.

Grayscale Investments, the world’s largest digital asset-focused investment platform¹, just sent a letter to the Senate requesting a floor vote on the CLARITY Act before the August recess. "Senators and staff across the aisle have spent months addressing hard questions about jurisdiction, investor protections, and developer safeguards. The framework that emerged protects investors, shields legitimate developers from overreach, and provides the certainty Americans deserve." After months of bipartisan work, the industry is ready for CLARITY.

Grayscale Research believes onchain vaults may break into traditional finance. Similar to collateralized loan obligations (CLOs), vaults pool capital into managed portfolios, but are fully onchain. Today, onchain vaults hold ~$7B in total value locked (TVL), a fraction of the ~$1.5 trillion CLO market. Read more on The Stack:

$HYPE trades at a forward multiple of ~15-18x. @HyperliquidX has real cash flows, so it can be valued like a stock, but on earnings per token, not earnings per share. On that basis it still looks cheap versus fintech peers like $COIN, $HOOD and $CRCL. Learn more on the Stack:

Ripple is partnering with @Mastercard, @jpmorgan, @okx, and @OndoFinance to build the future of finance for both traditional and digital assets. @_JackMcDonald_ joins Grayscale to discuss @Ripple's institutional strategy, real-world adoption of $RLUSD and $XRP, and what's next.

Solana $SOL @solana continues to see significant onchain activity — 1,200 TPS, averaging 100M daily transactions, 4.3M unique daily users, and over $100M in transaction fees year to date. Notable dApps in the ecosystem include: @Raydium, @Pumpfun, and @GEODNET. Read more on Solana from @LowBeta on The Stack:

2/ Learn more about $HYPG: HYPG, an exchange traded product, is not registered under the Investment Company Act of 1940 ("40 Act") and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. An investment in HYPG is subject to significant risk, heightened volatility, and is not suitable for an investor that cannot afford the loss of the entire investment. An investment in the Fund is not a direct investment in HYPE.

Top 15 onchain apps by protocol revenue: $HYPE, $PUMP, $CAKE, $SKY, $JUP, $AAVE, $AERO, $WLFI, $LDO, $MET, $ETHFI, $LIT, $CARDS, $UNI, $RAY Some of the top onchain apps by revenue have real cash flows, low overhead, and single-digit multiples, and with the CLARITY Act potentially weeks away, we believe investors are facing an attractive entry point today. Read more from @LowBeta's latest Stack article here:

How does the CLARITY Act affect institutional players in digital assets? At the @SolanaInstitute's Washington x Wall Street event, Grayscale Chief Legal Officer @CraigSalm joined legal and policy minds from Gibson Dunn, WilmerHale, @jump_, and @SolanaInstitute to unpack the CLARITY Act, SEC and CFTC jurisdiction, and what compliance frameworks need to look like amid continued regulatory uncertainty. Conversation is happening and Grayscale is at the table.

How should you value a digital asset? At Grayscale, we view crypto on a spectrum. Some assets, like $BTC, are digital commodities driven by supply and demand. Others, like $HYPE, are tied to revenue and can be valued with cash flows. Read the full stack post from @lowbeta here:

Hyperliquid's @HyperliquidX HIP-3 is becoming the venue for pre-IPO trading and price discovery $SPCX @SpaceX is the clearest example yet On IPO day alone, trading volume hit ~$1.4B Total cumulative volume reached ~$3.1B across 9 days, pre and post-IPO The trading day no longer has a closing bell for onchain equity markets

One of the most powerful ideas in DeFi is the open architecture approach Instead of waiting for @HyperliquidX to list a market, builders can deploy their own products on top of Hyperliquid’s infrastructure The result is a platform with the ability to scale and adapt rapidly based on demand That utility drives our conviction in $HYPE

Warsh's first Fed presser. The Iran ceasefire trade. Bitcoin surging back. @Steven_Ehrlich talks macro-to-crypto with Zach Pandl [ @LowBeta ], Head of Research at @Grayscale — is crypto spring real, or is it a trap? Today at 2pm ET. Join us on: x -

Grayscale Research believes $AAVE may be undervalued at current levels Our fair value is $80 to $100, with a base case of ~$175 in a year Cash-flow driven tokens like @aave can be valued like a financial business Read the full report here:

Thrilled to welcome Steven Vanourny as @Grayscale's new Head of Index His experience identifying emerging opportunities and building differentiated investment platforms will be invaluable as we advance our next generation of investment products Excited to have him on board!

Centralized AI companies like @AnthropicAI are more vulnerable to government intervention. Decentralized AI technology like $TAO @opentensor offers an alternative. Bittensor provides open source, permissionless access to AI through a decentralized global network. Following the suspension of Anthropic's AI model, $TAO rallied sharply, climbing 30% in just 12 hours. Read more on this from @LowBeta on the Stack:

We believe @Zcash $ZEC is the first privacy protocol to participate in a full @AnthropicAI Mythos-level audit Grayscale Zcash Trust (Ticker: $ZCSH) is the only pure $ZEC exposure available in certain U.S. brokerage accounts. See important disclosures and learn more about $ZCSH:

Grayscale has been named in @FortuneMagazine's inaugural Crypto 100. Grayscale is the world’s largest digital asset-focused investment platform, founded in 2013 to make digital asset investing simpler and more accessible. Proud to be recognized among the companies helping shape the future of digital assets.

This information must be preceded or accompanied by a current Grayscale Hyperliquid Staking ETF ("HYPG or the "Fund") prospectus, which may be obtained by clicking below. Please read the prospectus carefully before investing: HYPG, an exchange traded product, is not registered under the Investment Company Act of 1940 ("40 Act") and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. Investing involves risk, including possible loss of principal. An investment in HYPG is subject to a high degree of risk and volatility. HYPG is not suitable for an investor that cannot afford the loss of the entire investment. An investment in the Fund is not a direct investment in HYPE. Foreside Fund Services, LLC is the Marketing Agent for the Fund.