VanEck Plans Hyperliquid Spot Staking ETF in U.S., ETP in Europe
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Asset manager VanEck is preparing to file for a spot staking ETF based on Hyperliquid (HYPE) in the United States, while simultaneously planning to launch an exchange-traded product (ETP) in Europe, two employees at the firm told Blockworks.
Hyperliquid is a Layer-1 blockchain that supports a popular perpetual futures exchange. Since its launch in 2023, the chain has led all blockchains in network revenue for four consecutive weeks, making it an attractive candidate for VanEck’s next crypto product. Blockworks
In addition to giving U.S. investors exposure to HYPE via a regulated ETF structure, VanEck is also considering using a portion of the product’s net profits to buy back HYPE tokens, effectively putting upward pressure on demand. Blockworks
Although a European Hyperliquid ETP was already launched by 21Shares in August, VanEck’s filing would mark HYPE’s first spot staking ETF attempt in the U.S. Blockworks
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These proposed filings remain subject to regulatory approval, especially in the U.S. where the Securities & Exchange Commission (SEC) is reviewing a number of crypto-ETF applications, including for larger tokens like SOL and XRP.
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