VanEck Targets Hyperliquid ETFs as Binance Partners With Franklin Templeton on Tokenized Securities

SEC Chair Paul Atkins Says Most Tokens Are Not Securities, Launches Project Crypto to Create Unified Framework for Trading Lending and Staking

SEC Chair Paul Atkins announced a major shift in US crypto policy, declaring that most crypto tokens are not securities and unveiling “Project Crypto,” a plan to unify trading, lending, and staking under a single regulatory framework. Speaking at the OECD Roundtable in Paris, Atkins promised predictable rules to replace enforcement-led policy, praised Europe’s MiCA regime as a model, and called for global cooperation. The initiative could allow regulated crypto “super-apps” to emerge in the US, with flexible custody options. Meanwhile, Europe is tightening rules for banks, requiring higher capital reserves for unbacked crypto like Bitcoin and Ethereum, highlighting divergent regulatory approaches.

VanEck Prepares Hyperliquid Spot Staking ETF in US and ETP in Europe, Eyes HYPE Buybacks Pending Regulatory Approval

VanEck plans to launch a Hyperliquid spot staking ETF in the US and a Hyperliquid exchange-traded product in Europe, marking the youngest token yet to receive an ETF filing from the firm. Hyperliquid, a fast-growing blockchain behind a leading perpetual futures exchange, has topped network revenue charts for weeks. VanEck sees strong demand for HYPE and is considering buybacks funded by ETF profits, though regulatory approval remains pending. The move follows VanEck’s earlier first-to-file strategy for Solana and Ethereum ETFs and comes as competition builds around the Hyperliquid-aligned stablecoin USDH, backed by Agora, a startup linked to VanEck’s leadership.

S&P 500 Blocks Strategy From Index, JPMorgan Warns of Growing Risks for Crypto Treasury Firms

JPMorgan analysts said the S&P 500 index committee’s decision to exclude Strategy (formerly MicroStrategy) despite meeting eligibility criteria is a major setback for crypto treasury firms. The rejection signals caution toward companies heavily exposed to bitcoin, limiting their ability to gain institutional inflows through benchmark index inclusion. Analysts warned that other index providers may reconsider their stance, while growing investor fatigue, stricter Nasdaq rules, and weakening equity issuance further pressure the sector. Capital may increasingly shift toward crypto firms with operating businesses rather than balance-sheet bitcoin strategies.

Binance Partners With Franklin Templeton to Develop Tokenized Securities and Digital Asset Solutions for Global Investors

Binance and Franklin Templeton announced a strategic collaboration to develop digital asset initiatives combining Franklin Templeton’s expertise in tokenized securities with Binance’s global trading infrastructure. The partnership aims to deliver innovative investment solutions that enhance efficiency, transparency, and access to capital markets. Executives from both firms highlighted the opportunity to bridge traditional and decentralized finance, accelerate adoption of blockchain technology, and bring tokenization from concept to large-scale practice. Specific product details are expected later this year.

SEC Postpones BlackRock Ethereum Staking ETF and Franklin Templeton Solana and XRP Decisions Amid Broad Altcoin ETF Delays

The SEC has postponed decisions on several crypto ETF proposals, including BlackRock’s iShares Ethereum Trust staking addition and Franklin Templeton’s Solana and XRP ETFs. The Ethereum staking ruling was pushed to October 30, while the Solana and XRP funds were delayed until November 14. These delays follow a broader pattern, with the SEC recently extending deadlines for multiple altcoin ETFs, including Hedera, Dogecoin, and Litecoin products. Analysts suggest the regulator is holding off until new generic listing standards are finalized, potentially paving the way for a wave of ETF approvals later this year. Bloomberg estimates a 95% chance that Solana and XRP ETFs will be approved in 2025, with high odds for Ethereum staking as well.