Key Takeaways
- VanEck plans to launch the first HYPE spot staking ETF in the United States.
- A physically backed Hyperliquid ETP is also in the works for Europe.
- Hyperliquid’s rise as a decentralized trading hub has made it a target for institutional products.
VanEck, the $100 billion asset manager behind some of the first Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), is preparing to expand its crypto lineup with Hyperliquid.
The firm announced plans to file for a U.S.-listed spot staking ETF tied to HYPE, Hyperliquid’s native token, while simultaneously preparing a physically backed exchange-traded product (ETP) for European markets.
If approved, the ETF would make Hyperliquid the youngest digital asset to receive a filing from a Wall Street giant.
Details of the Proposed Products
The U.S. proposal seeks to offer investors exposure to HYPE through a spot staking ETF, blending passive price exposure with active staking rewards.
Unlike traditional spot ETFs that only track price, the product would generate potential yields from staking activity, appealing to investors seeking income as well as growth.
In Europe, where regulatory hurdles are less severe, VanEck plans to list a physically backed Hyperliquid ETP.
This would open access to both institutional and retail investors across the continent, reinforcing HYPE’s presence in global markets.
VanEck has also floated the idea of allocating a portion of net profits from the funds to buy back HYPE tokens, aligning its strategy with Hyperliquid’s own model of reinvesting platform revenue into token buybacks.
Hyperliquid’s Rise to Prominence
Launched in 2023, Hyperliquid has quickly become a powerhouse in decentralized finance.
The Layer-1 blockchain specializes in perpetual futures and leveraged trading, with daily volumes in the billions and revenue figures surpassing many established competitors.
Its efficiency, decentralized governance, and aggressive expansion have positioned it as a credible rival to centralized giants like Binance.
The project has further ambitions: Hyperliquid is preparing to launch its own stablecoin, USDH, to bolster liquidity and reduce reliance on USDC and USDT.
Earlier this week, VanEck CEO Jan van Eck published an open letter praising Hyperliquid’s technology, governance, and rollout strategy, signaling the firm’s intent to deepen its involvement with the ecosystem.
Institutional Interest Meets Retail Momentum
The combination of Hyperliquid’s surging user base and VanEck’s institutional clout could mark a turning point in how decentralized exchanges integrate with traditional finance.
By moving first with ETF and ETP filings, VanEck is attempting to secure a lead in a fast-growing corner of the digital asset market.
If regulators approve the products, Hyperliquid will have succeeded in bridging the gap between retail-driven DeFi activity and regulated Wall Street capital—a milestone that could further reshape crypto’s competitive landscape.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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