VanEck is set to file for a Hyperliquid spot staking ETF in the US and an exchange-traded product in Europe, according to firm representatives. The Hyperliquid token, HYPE, will become the firm's youngest token to receive an ETF filing, complementing its existing bitcoin and ether offerings. VanEck aims to allocate a portion of its investment products’ profits toward HYPE buybacks, with the token currently undergoing buybacks funded by the platform's revenue. Hyperliquid, a layer-1 blockchain, has become a focal point for VanEck this year, showing significant demand despite not being listed on major US exchanges. The ETFs would be subject to regulatory approval, with precedents such as 21Shares’ European Hyperliquid ETP already established. Furthermore, VanEck's moves are independent of Agora's stablecoin USDH proposal, positioned in a competitive landscape for stablecoin issuance. The filing for the HYPE ETF would continue VanEck's trend of exploring opportunities within the crypto space, aiming to facilitate greater investor access to emerging tokens.

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