VanEck Plans To File Hyperliquid Staking ETF Amid Rising Demand

VanEck Plan Hyperliquid Staking ETF Filing in US & ETP Launch in Europ

In the recent hints, it could be concluded that VanEck, one of the leading crypto-focused investment firms, is preparing to file for a Hyperliquid staking ETF in the U.S. and launch a European exchange-traded product (ETP). 

This strategic move is aimed at widening investor access to the fast-growing Hyperliquid ecosystem while showcasing the firm's ongoing bullish stance on emerging blockchain projects.

VanEck's Hyperliquid ETFs and ETPs Plans

VanEck plans to file for a Hyperliquid staking ETF in the United States and a Hyperliquid ETP in Europe. This development would make HYPE the youngest token to receive an ETF filing from VanEck, which already manages a number of cryptocurrency funds, including Bitcoin and Ethereum ETFs.

VanEck's digital assets investment analyst, Matt Maximo, stressed that HYPE has been a focal point for the firm's liquid fund this year. Meanwhile, VanEck's director of digital asset products, Kyle Dacruz, confirmed the firm is also exploring allocating a percentage of net profits from the fund towards HYPE buybacks, which is in line with HYPE's existing model of revenue-driven token buybacks.

Source: Wu Blockchain X

Why $HYPE?

It is a layer 1 blockchain and houses a very popular perpetual futures exchange. Launched in 2023, the chain has gained traction quickly, leading all blockchains in network revenue for four consecutive weeks, according to the Research.

VanEck believes the demand for HYPE is high despite the token not even being available on major U.S. exchanges like Coinbase. By launching a spot staking ETF, VanEck would be able to not only increase access for U.S. investors but also perhaps encourage larger exchanges to list HYPE in the near future.

Regulatory & Competitive Landscape

VanEck's move is coming amid a flurry of interest in launching crypto-based ETFs. The U.S. Securities and Exchange Commission (SEC) has several applications under review, such as ETFs for Solana (SOL), XRP, Avalanche (AVAX), JitoSOL, and Binance Coin (BNB).

While regulatory approval in the U.S. can take longer, Europe has been faster to adopt such products. In fact, 21Shares successfully launched a Hyperliquid ETP in August, and this sets the precedent for VanEck's upcoming plans.

USDH Stablecoin Context

This development is also in line with growing competition around the USDH stablecoin, which is aligned with Hyperliquid. One important contender is Agora, a startup co-founded by Nick van Eck, son of VanEck CEO Jan van Eck. Although VanEck is said to be involved in the management of Agora's reserves, the firm made clear that the ETF and ETP plans are independent of Agora's USDH bid. Dacruz emphasized that VanEck's filing isn't conditional on Agora being the issuer of USDH, emphasizing the separation of the two entities.

Conclusion

VanEck's decision to launch a HYPE staking ETF and European ETP is a signal that they are serious about supporting innovative blockchain ecosystems. If successful, the filings could improve accessibility for U.S. and European investors, further bolstering Hyperliquid's trajectory for growth and expanding the landscape for crypto-based investment products.