Product Description

Gain exposure to the dominant platform of on-chain derivatives trading. Hyperliquid operates the largest decentralized perpetual futures exchange, built on its own purpose-built Layer-1 blockchain with sub-second finality and CEX-rivaling execution speed. Historically, over 97% of protocol fees are funding direct HYPE token buybacks through the Assistance Fund, therefore the token's demand is structurally linked to platform usage. The VanEck Hyperliquid ETN is a fully-collateralized exchange traded note that invests in the HYPE Token.

• 100% backed by HYPE Token
• Stored at a regulated crypto custodian
• Tradeable like an ETF on regulated stock exchanges (albeit within a different segment)

Main Risk Factors: Volatility Risk: The trading prices of many digital assets have experienced extreme volatility in recent periods and may well continue to do so. Digital assets were only introduced within the past decade and regulatory clarity remains elusive in many jurisdictions. Liquidity concentration risk, Centralised validation risk (PoS Risk), Application Dependency risk, Currency Risk, Technology Risk, Legal and Regulatory Risks. You can lose money by investing in the ETNs. The value of the investments may go up or down and the investor may not get back the amount invested.