News linked to both this project and an event.
According to a Grayscale research report, as AI-driven financial monitoring capabilities continue to expand, the demand for financial privacy is experiencing a third wave of renewed interest, potentially benefiting Zcash (ZEC). The report notes that Zcash’s zero-knowledge proof-based shielded transaction technology conceals the sender, recipient, and transaction amount, establishing a differentiated positioning compared to Bitcoin’s transparent on-chain records. Current on-chain data shows that shielded transactions now account for approximately 90% of Zcash’s total network transaction volume, while shielded supply has reached around 4.2 million ZEC, representing 25% of the circulating supply, with both figures hitting all-time highs. In terms of valuation, ZEC holds a market capitalization of approximately $8 billion, accounting for only 0.6% of the total market cap within Grayscale's "Cryptocurrency Monetary Sector". If its market share increases to 5%, the theoretical valuation space would be roughly nine times the current level. The report also cautions that Zcash faces multiple risks, including regulatory compliance, legacy issues from historical trusted setups, quantum computing threats, and protocol upgrade execution challenges, requiring investors to conduct prudent assessments.
Grayscale has filed the fourth amendment to the registration statement for the Grayscale Zcash Trust (ZEC) with the U.S. Securities and Exchange Commission, planning to list the trust on the NYSE Arca market under the ticker symbol ZCSH. Upon completion of the listing, Authorized Participants will be able to continuously subscribe and redeem trust shares, differing from the previous model where trading was limited to the over-the-counter market and redemptions were not supported.
Grayscale Research Director Zach Pandl stated in a post that the Ethereum and Solana blockchain networks are considering adjusting their token economic models to reduce future token supply growth by lowering annual inflation rates, thereby enhancing asset scarcity. As key blockchain-native assets underpinning the stablecoin and tokenized asset ecosystems, the prices of ETH and SOL are primarily determined by supply and demand dynamics. If relevant code upgrade proposals are approved, all else being equal, lower supply growth could support token prices. ETH and SOL are becoming important digital commodities underpinning stablecoins and the tokenization of real-world assets, and tokenomic adjustments to lower inflation may further strengthen the scarcity attributes of both. According to Grayscale's analysis, if relevant adjustments are implemented, the supply inflation rates of BTC, ETH, and SOL will continue to decline over the next five years. It is projected that by the end of 2031, the annual inflation rates for Bitcoin and Ethereum will both be approximately 0.4%, while Solana will be around 1.1%, lower than gold's annual supply growth rate of approximately 1.8% and the US CPI inflation level of approximately 3.3%.
Odaily News – Grayscale withdrew three ETF registration applications for Cardano (ADA), Hedera (HBAR), and Polkadot (DOT) in succession on August 7, with the three withdrawal filings submitted approximately 190 seconds apart.All three withdrawal filings indicate that Grayscale no longer plans to proceed with the issuance of shares for the related ETFs. The filings also note that the registration statements had not yet taken effect, no securities were issued or sold, and no preliminary prospectus was published. These withdrawals do not represent rejections by the SEC of the related ETF applications, and the filings do not disclose the reasons behind them.As of August 8, Grayscale's altcoin ETF applications for Bittensor, Aave, BNB, NEAR, and Zcash remain in the preliminary stage. Previously, Grayscale's Avalanche Staking ETF and Hyperliquid Staking ETF registration statements took effect in March and June of this year, respectively. However, the effectiveness of a registration statement does not mean the product has begun trading. (cryptoslate)
Odaily News: Grayscale Head of Research Zach Pandl said that even if the Digital Asset Market Structure Clarity Act (CLARITY Act) is not passed, the operation of major blockchains, demand for Bitcoin as a store of value, and growth of stablecoin payments will not be immediately affected. Regulators will fill regulatory gaps through rulemaking. Zach Pandl noted that the lack of comprehensive market structure legislation could dampen new investment activity in the US, prompting crypto industry participants and startups to move to overseas jurisdictions with clearer regulatory frameworks. The US government will continue to support the development of the crypto ecosystem. Strategy co-founder and Executive Chairman Michael Saylor previously stated that regardless of whether the CLARITY Act is passed, Bitcoin will continue to develop, but the US needs regulatory clarity for digital assets. Senator Bernie Moreno said that Senate Democrats and Republicans have concluded related negotiations, and a vote will follow.
According to BeInCrypto, Grayscale Head of Research Zach Pandl released a report using the "earnings per token" method to value Hyperliquid (HYPE). The report assumes Hyperliquid's 2027 earnings will be approximately $1 billion (an increase of about 20% compared to 2025), and expects the circulating supply at that time to reach 270 million to 310 million tokens, corresponding to earnings per token of approximately $3.25 to $3.75. Calculated at the current price of approximately $54, the forward P/E ratio is approximately 15 to 18 times, suggesting it still holds a valuation advantage compared to fintech stocks.
this morning, two addresses suspected to be associated with Paradigm unstaked 2.92 million HYPE (approximately $171 million).Former Ethereum core developer and angel investor Eric Conner commented on this, saying: "Everyone assumes this is a sell-off, but it's more likely that this is for ETF seeding. Custodians require tokens to be liquid, and staked HYPE cannot be used. Back in April, they also unstaked $88 million worth of tokens, and on the same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."
on July 9 that Grayscale released research stating that stock tokenization will undergo three stages of development, with Ethereum, Solana, BNB Chain, Avalanche, and Canton Network most likely to benefit as ownership models evolve. Grayscale noted that third-party wrapped tokens account for over 70% of the tokenized stock market capitalization. In this model, traditional stocks are placed in special purpose vehicles, and investors receive tokens representing claims on the vehicle's equity, rather than direct ownership. Such wrapped assets operate on Ethereum, Solana, and BNB Chain, and can be traded and integrated into decentralized finance applications. Grayscale identified the pilot program planned by DTCC as the second stage of tokenized stock development, with Canton Network set to be the first blockchain used for the DTCC tokenization pilot. The third stage is issuer-sponsored tokenization, where companies natively issue securities on-chain. Securitize became the first publicly traded company to tokenize its own common stock when it listed on the New York Stock Exchange. Grayscale expects that wrapped tokens, the DTCC equity model, and issuer-sponsored issuance will coexist for the next several years. (Bitcoin.com News).
Grayscale Research stated that Strategy sold a portion of Bitcoin last week, which may help reduce financing risk and support Bitcoin price stability. This sale of approximately $216 million increased its USD reserves, expected to cover dividend payment needs for approximately 17 months. Meanwhile, the STRC price rebounded, indicating investors reacted relatively positively to this decision.
Barry Silbert, Founder and CEO of Grayscale's parent company DCG, disclosed via a repost on X that Kraken is about to list Bittensor subnet Alpha tokens. The first batch of listed tokens includes: Chutes, Targon, Score, Ridges AI, Hippius, etc.
Financial services firm Morgan Stanley on Thursday filed amended S-1 documents with the U.S. Securities and Exchange Commission, updating its Ethereum and Solana ETF applications and proposing a 0.14% fee for both products. Currently, the lowest fee among spot Ethereum ETFs in the U.S. is the Grayscale Ethereum Staking Mini ETF at 0.15%; among spot Solana ETFs, the Franklin Solana ETF charges 0.19%. Morgan Stanley's latest filings also indicate that Figment, Galaxy Blockchain Infrastructure, and Coinbase Canada will provide staking services for both ETFs, with each fund charging a 5% staking fee on rewards generated by the products. The Morgan Stanley Ethereum Trust is proposed to trade under the ticker MSSE, while the Morgan Stanley Solana Trust is proposed to use the ticker MSOL. (Cointelegraph)
According to The Block, approximately one month after the launch of the first spot HYPE ETFs, the cumulative trading volume across three issuers—21Shares (THYP), Bitwise (BHYP), and Grayscale (HYPG)—has approached $900 million, with net inflows reaching $153 million, reflecting strong institutional allocation intent. All three products hold HYPE tokens directly and pass through staking rewards to investors. The current annualized staking reward rate is approximately 2.25%, accrued per minute, distributed daily, and automatically compounded. Currently, about 45% of the stakable supply—approximately 434 million HYPE tokens—is staked.
Grayscale Research Head Zach Pandl stated that perpetual contracts, as a core product of the crypto market, have long been limited to crypto assets such as BTC and ETH. However, Hyperliquid is changing this landscape through its HIP-3 upgrade. HIP-3 allows for the permissionless deployment of perpetual contract markets on the Hyperliquid infrastructure, and a S&P 500 perpetual contract product has already been launched on Hyperliquid.Data shows that the HIP-3 market reached a peak open interest of approximately $3.2 billion in June 2026, with a cumulative trading volume of about $200 billion. These markets are not directly operated by Hyperliquid but adopt a "permissionless infrastructure" model: any qualified developer can create derivatives trading markets on its underlying network. This makes Hyperliquid more akin to an open financial infrastructure similar to AWS, with the HYPE token capturing the overall transaction value flow.
Ondo Finance has hired John Hoffman, a former Invesco ETF executive and Grayscale managing director, aiming to expand its tokenized investment products beyond equities and treasuries.John Hoffman will serve as managing director and head of product portfolio, focusing on building and distributing tokenized portfolios, including investment portfolios co-developed with asset management firms and strategies built around Ondo's existing products. This move indicates Ondo Finance's plan to go beyond single-asset tokenization and shift towards managed investment products on the blockchain. The current market size of tokenized assets has exceeded $30 billion. (CoinDesk)
Zach Pandl, Head of Research at Grayscale, released a research report stating that, based on multiple on-chain valuation metrics, Bitcoin’s current price is below its long-term average, indicating it is undervalued—though not to the same extent as previous cycle lows, such as those following the FTX collapse.
According to Hyperinsight monitoring, Grayscale’s Hyperliquid Spot ETF (HYPG) officially launched on June 4, recording $4.7 million in net inflows on its first day.
Grayscale Chairman Barry Silbert posted on platform X, announcing that the Grayscale HYPE ETP launches today under the ticker HYPG.
According to The Block, Grayscale filed an amendment to its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on Monday for the Hyperliquid Staking ETF (ticker: HYPG), setting its management fee at 0.29%—lower than the already-listed Bitwise BHYP (0% for the first month, then 0.34%) and 21Shares THYP (0.30%). James Seyffart, ETF analyst at Bloomberg Intelligence, stated that the fund is expected to officially launch this week. Hyperliquid is a decentralized derivatives exchange supporting on-chain perpetual contract trading; its native token, HYPE, has a market capitalization of approximately $16.1 billion, ranking it as the world’s tenth-largest crypto asset.
Grayscale has submitted an amended S-1 filing for its Hyperliquid Staking ETF, proposing a management fee of 0.29% under the ticker HYPG. This fee is lower than that of competitors Bitwise and 21Shares, which have already launched similar products. Specifically, Bitwise's BHYP has a 0% fee for the first month, followed by 0.34%, while 21Shares' THYP charges 0.30%.Bloomberg ETF analyst James Seyffart said the fund is expected to launch as early as this week. If successful, HYPG will become the third Hyperliquid-related ETF.
According to The Block, Grayscale stated in its updated filing that it is negotiating with Hyper Holdings Global LP to acquire 2 million HYPE tokens in exchange for selling fund shares, as seed investment for its proposed Hyperliquid staking ETF. Valued at Thursday’s price, this portion of HYPE is worth approximately $115 million.