Asset manager VanEck intends to file for a spot Hyperliquid staking ETF in the United States and a related exchange-traded product (ETP) in Europe. This strategic initiative highlights the firm's ambition to offer investors regulated access to yields from promising DeFi ecosystems.

The planned filings follow a similar move by VanEck to launch an ETF based on JitoSOL, a liquid staking token on Solana. This pattern indicates a broader strategy to create traditional financial products that capture returns from staking mechanisms within high-growth blockchain networks. Hyperliquid has seen notable success, particularly in perpetual futures trading, which has increased the prominence of its native stablecoin, USDH.

VanEck's focus on Hyperliquid suggests that asset managers are looking beyond Bitcoin and Ethereum to find new sources of alpha. By creating a wrapper for Hyperliquid's staking rewards, the firm is meeting rising institutional interest in more sophisticated crypto-native yield strategies.

This development signals a maturing market where financial products are evolving from simple spot exposure to incorporating complex DeFi functionalities. It also underscores the competitive dynamics among Layer-1 ecosystems and their associated stablecoins, as they vie for capital and user adoption through institutional-grade investment vehicles.