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- VanEck prepares to file for a Hyperliquid spot staking ETF in the US and an ETP in Europe.
- HYPE could become the youngest token to receive an ETF filing from a major investment manager.
- VanEck explores buybacks and broader strategies while competition grows in the Hyperliquid ecosystem.
VanEck is preparing to expand its crypto product line with new filings centered on Hyperliquid. The investment manager plans to submit an application for a Hyperliquid spot staking ETF in the United States. At the same time, it intends to introduce an exchange-traded product in Europe.
If approved, HYPE will become the youngest crypto token to be recognized via an ETF filing by the firm. VanEck already provides bitcoin and ether ETFs and other crypto-related funds.
The firm has pinpointed Hyperliquid as one of its core positions within its liquid fund throughout the year. The firm analysts notice that Hyperliquid’s elevated growth rates render it an attractive prospect for rising investor coverage.
Hyperliquid Emerges as Leading Layer-1 Blockchain
Hyperliquid is a layer-1 blockchain powering a rapidly growing perpetual futures marketplace. Since launching in 2023, the protocol itself gained traction among traders and builders. Statistical analysis confirms it topsailed all blockchains for four straight weeks for revenue on the network, showing both usage and demand.
The current shape of the token already incorporates buybacks tied directly to revenue at the platform level. VanEck is contemplating whether it would want to dedicate a percentage of product profits into further buybacks. This would economically make the ETF shape more equivalent to the current shape of the token.
Despite growing interest, HYPE doesn’t presently trade on major United States exchanges. An ETF would grant American investors straight exposure and induce exchanges into re-evaluating listings. In Europe, the environment for regulation is already more favorable. Since August there has been a European Hyperliquid ETP which trades under another issuer and there are signs of interest among investors.
VanEck Positions Early With Solana and Ethereum ETFs
The US market provides a more complex direction. The Securities and Exchange Commission continues to consider a number of applications for crypto ETFs. Larger coins such as XRP and SOL are still pending decisions, and it might delay approval for small projects such as HYPE.
VanEck, however, has a track record of going early. It went one of the first to sign up for Solana and Ethereum ETFs, and therefore it remained ahead of the curve both in timing and positioning. Besides the ETF sign-ups, the Hyperliquid protocol itself has been garnering attention for another reason.
Several players are competing to debut USDH, a stablecoin tied to the chain. In the list is Agora, whose co-founder is the son of the chief executive of VanEck. Though VanEck offers support for the reserves of Agora, the company asserts that its ETF bid remains apart from the stablecoin race.
If approved, it would be another milestone for linking mainline finance and the emerging blockchain networks. The decision could also catapult Hyperliquid further into the mainstream and redefine the storyline around up-and-coming tokens entering regulated markets.
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