Hyperliquid Expands with USDH Governance and VanEck’s HYPE ETF Plans

Hyperliquid is gaining momentum in the crypto market as it pushes forward with community-driven governance and ETF developments. After HYPE, its native token, recently surged to an all-time high, the company confirmed plans for a VanEck-backed HYPE ETF, while also introducing a governance protocol for its upcoming USDH stablecoin.

The USDH vote marks a major step for Hyperliquid’s decentralized strategy. Instead of directly managing the outcome, the company has handed control to its community, ensuring a democratic process. HYPE holders are now staking their tokens with validators, each aligned with a position on the stablecoin’s future. By removing its own holdings from eligibility, Hyperliquid further emphasized its commitment to transparency and decentralization.

Native Markets has emerged as the leading candidate to develop the USDH infrastructure. Although its chances briefly dipped due to unverified rumors of a bribery scandal, support quickly rebounded, restoring it as the frontrunner. The governance vote, currently live and set to close on September 14, will determine whether Native Markets secures the opportunity.

Market observers note that this governance initiative adds to Hyperliquid’s strong bullish narrative. While immediate price action for HYPE may not reflect these developments, the combination of an ETF launch and stablecoin governance vote significantly boosts visibility and long-term community engagement.

With heightened attention from both institutional and retail investors, Hyperliquid is strategically positioning itself at the center of innovation in decentralized finance. By pairing democratic decision-making with the credibility of a major ETF partner like VanEck, the company is likely to sustain growth and strengthen its ecosystem in the months ahead.