VanEck Pursues First Hyperliquid Spot Staking ETF in the U.S., ETP in Europe
, one of the world’s most prominent asset managers, plans to file with the U.S. for the first-ever spot staking platform-traded fund (ETF) linked to Hyperliquid’s native token, HYPE.
At the identical time, the company is getting ready to launch a rival platform-traded product (ETP) in Europe, where the rules are more flexible. This two-pronged approach tries to connect decentralized finance (DeFi) with standard investment frameworks. It gives investors regulated access to HYPE with staking rewards.
Hyperliquid’s DeFi Rising Star
Hyperliquid, a Layer-1 blockchain that begined up in 2023, has become a major player in DeFi, consistently topping the charts for network revenue. HYPE, the native token, has witnessed significant price increases and more trading activity, making it a excellent target for institutional products.
VanEck’s planned aims to combine spot exposure to HYPE with staking dividends. This will let investors receive passive income while keeping an eye on the token’s price. This hybrid framework could change the way digital assets are used in traditional finance.
Plan for a Strategic purchaseback
One thing that sets VanEck’s ETF and apart is that they plan to use some of their net gains to purchase back HYPE tokens on the open market. This unusual method is similar to Hyperliquid’s own strategy of leveraging platform earnings to purchase back tokens.
This could create long-term demand and assist value. The SEC will look into this approach more closely because it raises hardys about token custody, yield transparency, and market impact.
Regulatory Environment and Issues
The SEC is into a number of crypto ETF applications right now. These include those for BTC, ETH, Solana, XRP, and Dogecoin. Because of this backlog, VanEck’s HYPE ETF may take longer to get approved, especially since staking-based ETFs are still new in the U.S.
On the other hand, Europe’s less strict rules have already made it possible for products like the 21Shares Hyperliquid ETP, which came out in August 2025, to be sold. This might be a model for VanEck’s plans in Europe.
VanEck’s Plan for DeFi Integration
Matt Maximo, VanEck’s senior digital asset analyst, talked about how vital Hyperliquid is to the company’s liquid fund strategy. He said that its excellent network performance and expanding investor demand were two reasons why.
VanEck’s ETF and ETP filings show that the company wants to be the leader in crypto ETF innovation, following the success of its and ETH products. VanEck wants to get Hyperliquid because it wants to take advantage of the growing interest in DeFi among institutions and make HYPE a key part of the decentralized trading infrastructure.
