Grayscale Swaps Coinbase for Chartered Anchorage in Hyperliquid ETF Filing, Signals BTC Demand Shift

Grayscale amended its Hyperliquid (HYPE) ETF S-1 on April 20, 2026, replacing Coinbase Custody with Anchorage Digital Bank, a federally chartered crypto bank with OCC-qualified status, to address SEC custody concerns. This follows Anchorage's $100M Tether investment in February 2026 valuing it at $4.2 billion and Grayscale's prior use of Anchorage for Bitcoin and Ethereum trusts. The change highlights an industry pivot to chartered custodians, potentially speeding ETF approvals and increasing institutional Bitcoin exposure, though staking awaits separate clearance for Nasdaq's GHYP ticker.