VanEck, a U.S.-based digital asset manager, is reportedly filing for a spot staking Hyperliquid ETF in the United States, according to sources familiar with the matter.
At the same time, the company is also planning to launch a similar HYPE exchange-traded product in Europe. This move is aimed at giving investors easier access to the HYPE token and to let more people invest in it.
VanEck executives said that launching this ETF could help the HYPE token get listed on Coinbase, one of the biggest cryptocurrency exchanges. HYPE has been growing quickly in price, rising 23% over the past week, and is now trading at $56. The company hopes the ETF will make it simpler for U.S. investors to buy and hold HYPE while earning rewards through staking.
The Hyperliquid ETF will allow investors to stake their tokens, which means they can earn interest or rewards on them. At the same time, the ETF will stay very liquid, meaning investors can buy and sell it easily. Matt Maximo, a senior digital assets analyst at VanEck, said Hyperliquid “remains a key focus this year for the firm’s liquid fund.”
Kyle Dacruz, director of digital assets at VanEck, said the company is also thinking about using part of the ETF profits to buy back HYPE tokens. Right now, Hyperliquid already buys back almost all of the revenue it earns from its platform.
VanEck’s leadership is focusing more on Hyperliquid because it has been competing with big exchanges like Binance in cryptocurrency trading. CEO Jan van Eck praised the DEX’s technology and the way it is governed.
Hyperliquid has handled billions of dollars in trades smoothly, gaining trust from investors. According to Blockworks Research, Hyperliquid has led all blockchains in network revenue for nearly four weeks in a row.
Dacruz said there is “plenty of demand” for a Hyperliquid ETF and that it could make HYPE easier for U.S. investors to access. A Coinbase listing could happen as a result. The ETF still needs approval from the U.S. Securities and Exchange Commission, which has not yet approved staking for Ethereum ETFs. Meanwhile, 21Shares, a European company, launched a Hyperliquid ETP last month.
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