Market News

VanEck Sets to Launch Hyperliquid Staking ETF Amid Growing Interest

VanEck, a prominent player in the cryptocurrency investment sector, is reportedly preparing to file for a Hyperliquid staking ETF in the United States.

This strategic initiative also includes plans for a Hyperliquid exchange-traded product (ETP) in Europe, aiming to enhance investor access to the burgeoning Hyperliquid ecosystem.

The anticipated ETF would make HYPE the latest token to receive an ETF filing from VanEck, which already manages several crypto funds, including Bitcoin and Ethereum ETFs.

Matt Maximo, a digital assets investment analyst at VanEck, highlighted HYPE's prominence in the firm's liquid fund this year.

Additionally, VanEck's Kyle Dacruz indicated that a portion of net profits from the fund may be allocated towards HYPE buybacks, aligning with the token's revenue-driven buyback model.

Launched in 2023, HYPE's blockchain has rapidly gained popularity, leading all blockchains in network revenue for weeks.

Despite its absence from major U.S. exchanges, the firm believes there is a strong demand for HYPE and aims to increase accessibility for U.S. investors through the ETF.

This move comes amid a competitive landscape for crypto ETFs, as the SEC reviews several applications for different cryptocurrencies.

VanEck's launch of these products is expected to further establish and expand Hyperliquid's presence in the crypto market.

Overall, this venture signifies VanEck's commitment to innovative blockchain solutions while enhancing investment opportunities for both U.S. and European investors.