VanEck Eyes HYPE ETF Launch in US, Europe
VanEck Confirms Hyperliquid HYPE ETF Plans
VanEck, a global investment management firm with $90 billion in assets, has officially announced its intention to launch an exchange-traded fund (ETF) tied to Hyperliquid's native token, HYPE. This move positions HYPE as one of the youngest digital assets to be considered for such a financial product.
Expanding Crypto ETF Offerings
The announcement follows speculation triggered by VanEck CEO Jan van Eck's public engagement with the Hyperliquid community on X. His comments fueled rumors of a potential HYPE ETF.
“We are impressed by your product, the technology, the decentralized governance, and the method of your rollout. We are bullish on Hyperliquid. We are owners (and have been for several months). And we’d be thrilled to be a part of your community’s ecosystem,” Jan Van Eck wrote on X.
Speaking to BeInCrypto, a VanEck spokesperson confirmed the asset manager is actively pursuing a HYPE-based ETF. The financial instrument is reportedly under development for both the US and European markets.
ETF Details and Ecosystem Support
"If approved by regulators, the fund would look to stake HYPE at launch," the spokesperson stated, suggesting a commitment to the Hyperliquid network.
VanEck is also considering initiatives to further support Hyperliquid's growth, potentially through a buyback program or ecosystem fund. This mirrors similar support provided to Bitcoin and Ethereum core developers by the firm through previous ETF ventures.
According to VanEck, the ETF plans are independent of Hyperliquid's ongoing governance discussions. This clarifies that VanEck's pursuit of the ETF remains regardless of any external matters.
A successful HYPE ETF would represent a milestone for Hyperliquid, building on recent interest from institutional players and developers in the HyperEVM ecosystem. It also extends VanEck's track record in crypto ETF innovation, following its spot Bitcoin and Ether ETF offerings. With the increasing complexity of decentralized finance (DeFi) platforms, ensuring the security of assets is paramount. Platforms like Codeum offer smart contract auditing and security consulting, helping projects establish a secure foundation for growth.
As of this writing, Hyperliquid's HYPE token is trading at $55.61, reflecting a nearly 2% increase in the last 24 hours.