Grayscale files 8-K for Hyperliquid staking ETF as $340M HYPE unlocks
Hyperliquid (HYPE)
Editor:
Eugene Serbin
ambcrypto.com reports that Grayscale filed an 8-K with the U.S. Securities and Exchange Commission regarding its Hyperliquid staking ETF. The filing pertains to the existing ETF process rather than a new application and aims to provide exposure to HYPE with staking rewards included. This development aligns with broader infrastructure efforts to facilitate institutional access to the HYPE ecosystem.
On October 6, 2026, 3.75 million Hyperliquid tokens, valued at $340 million, unlocked and entered circulation. Despite this supply increase, a large whale accumulated 158.78K HYPE, worth approximately $13.08 million, over the past month. The whale recently purchased and withdrew 54.02K HYPE, valued at $5.13 million, from Coinbase Prime.
Spot market data shows a net outflow of -$4.58 million, indicating more tokens left exchanges than were deposited. Price action recovered from $85 support to approach the $94.91 resistance level before settling near $93.36. Technical indicators show an RSI of 59.06 and an ADX of 34.70, suggesting strong directional trends without overbought conditions. A break above $94.91 could target the psychological $100 zone.
How the market reacted
Whalio's own Binance spot order flow for HYPE, measured when this story was written up on 6 October 2026. Not the outlet's figures.
HYPE trades at $94.18 with a 1-hour buy ratio of 48.0%, dipping below the 51.8% seen in the 4-hour window and the 52.5% 24-hour average. The 1-hour volume delta is negative at -$84,841, contrasting with the positive +$351,987 delta over the 4-hour period. Over the full 24 hours, the volume delta stands at +$2,453,117, with cumulative buying pressure (CVD) closing at +$844,699. This data indicates that while short-term selling pressure exists, the broader daily trend remains net positive. The buy ratio shows that buyers are currently outnumbered in the immediate hour but maintain a slight edge over the longer daily timeframe. Spot volume reached $47,627,861 across 76,733 trades, with net buying occurring in 13 of the last 24 hours.
Was that an ordinary day?
The same Binance spot measurements for HYPE, averaged over the days leading up to the story.
The current 24-hour volume of $47,627,861 is 1.59 times the weekly average, marking an unusually active trading day. This elevated volume accompanies a 7-day average buy ratio of 52.9%, which is slightly higher than the current 24-hour reading of 52.5%. Net buying has occurred for 7 consecutive days, contributing to an 8-day price increase of 7.6%. The total volume delta over the past week sums to +$17,016,578, confirming sustained accumulation. Today’s activity represents a continuation of this consistent upward trend rather than a deviation from it.