Core Insights - VanEck, a $100 billion asset manager, is expanding its crypto offerings with plans for a U.S. spot staking ETF linked to Hyperliquid's native token HYPE and a physically backed ETP for European markets [1][2] Proposed Products - The U.S. ETF aims to provide exposure to HYPE through a spot staking mechanism, combining passive price tracking with active staking rewards, appealing to income-seeking investors [3] - In Europe, VanEck's physically backed Hyperliquid ETP will enhance access for both institutional and retail investors, strengthening HYPE's global market presence [4] Hyperliquid's Market Position - Launched in 2023, Hyperliquid has rapidly established itself in decentralized finance, focusing on perpetual futures and leveraged trading, with daily volumes in the billions and revenues exceeding many established competitors [5] - Hyperliquid plans to introduce its own stablecoin, USDH, to improve liquidity and decrease dependence on USDC and USDT [6] Institutional and Retail Dynamics - The collaboration between Hyperliquid's growing user base and VanEck's institutional reputation could signify a pivotal moment for the integration of decentralized exchanges with traditional finance [8]