VanEck to Apply for Physically‑Backed Hyperliquid (HYPE) ETF in US, Eyes European ETP and Buybacks

COINOTAG reported on September 11 that asset manager VanEck intends to file for a physically-backed Hyperliquid ETF in the United States and pursue an ETP listing on a European venue, according to a Blockworks summary of the announcement.

VanEck’s Senior Digital Asset Investment Analyst, Matt Maximo, indicated that Hyperliquid has been the primary focus of the firm’s liquidity fund this year, while Director of Digital Asset Products Kyle Dacruz said the firm is evaluating a net profit allocation mechanism that could fund HYPE buybacks; Blockworks notes Hyperliquid has already directed nearly all platform revenue to buyback activity.

The filing timeline remains unspecified and VanEck did not provide an immediate comment; questions about the effective date of any ETF application were not answered by the company’s spokesperson.