tl;dr
VanEck, a $90 billion global investment manager, is planning to launch an ETF tied to Hyperliquid’s native token, HYPE, which could represent a significant milestone for the decentralized trading platform. The ETF, if approved, would be the youngest digital asset to secure such a filing. VanEck's ...
VanEck, the $90 billion global investment manager, is making waves in the crypto world with plans to launch an ETF tied to Hyperliquid’s native token, HYPE—a move that could mark a turning point for the decentralized trading platform. If approved, the ETF would be the youngest digital asset to secure such a filing, signaling a bold step into the evolving landscape of institutional crypto investing.
The idea began with a direct message from Jan van Eck, VanEck’s CEO, who praised Hyperliquid’s “decentralized governance” and “method of your rollout” in a post to the platform’s community on X. “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,” he wrote, sparking immediate speculation about a potential HYPE ETF.
VanEck’s spokesperson confirmed the rumors, revealing that the ETF is currently in development for both the EU and the U.S. “If approved by regulators, the fund would look to stake HYPE at launch,” they said, hinting at a strategy that mirrors VanEck’s approach with Bitcoin and Ethereum ETFs. The firm is also exploring additional measures to support Hyperliquid’s growth, such as buybacks or ecosystem funding programs, similar to how it has historically bolstered core crypto projects.
Crucially, the ETF’s approval is separate from Hyperliquid’s ongoing governance debates, including the contentious Agora stablecoin proposal. “This is separate from Agora’s stablecoin proposal. VanEck is moving ahead on its ETF regardless,” the spokesperson emphasized, underlining the firm’s confidence in Hyperliquid’s potential as a cornerstone of decentralized trading infrastructure.
For Hyperliquid, the news is a shot of adrenaline. The platform has already begun attracting attention from top builders and institutional players, and the HYPE ETF could amplify its momentum. It would also expand VanEck’s crypto ETF portfolio, following its successful spot Bitcoin and Ether products, and set the stage for a BNB ETF in April and an on-chain economy ETF earlier this year.
While regulatory hurdles remain, VanEck’s commitment suggests a growing belief in Hyperliquid’s role in the next wave of crypto innovation. HYPE’s price, currently trading at $55.61, has climbed nearly 2% in the past 24 hours, reflecting the market’s cautious optimism.
As the crypto world watches, one thing is clear: VanEck’s move could redefine how institutional investors engage with emerging protocols, turning Hyperliquid from a niche player into a mainstream contender. The question now is whether regulators will greenlight the ETF—and if they do, how quickly the market will respond.