Hyperliquid Strategies More Than Doubles HYPE Holdings as Shares Jump 18%

Nasdaq-listed Hyperliquid Strategies more than doubled its holdings of Hyperliquid's HYPE token. The company's shares also jumped nearly 18% on the day it reported earnings.

The Block reported on Aug. 27 that Hyperliquid Strategies held 29.3 million HYPE as of the fiscal year ended June 30, with those holdings valued at about $1.9 billion at the time. Over the same period, the company raised $647 million in capital through new share issuance and other measures.

It continued buying HYPE after that. As of Aug. 19, the company had acquired about 16.5 million additional HYPE at an average price of $46.77, spending a total of $773.4 million. It spent $27.8 million on share repurchases, held $132.6 million in cash and had no debt.

Chief Executive Officer David Shamis said the year was focused on building the platform's foundation. Hyperliquid is generating fees across on-chain finance, including perpetual futures, stablecoins, real-world assets and prediction markets. Much of the value created by the protocol is returned to HYPE holders through programmatic token buybacks, he added.

The company's financial results were heavily influenced by HYPE's price gains. Hyperliquid Strategies recorded $709.9 million in unrealized net profit on its HYPE holdings. It also booked a one-time loss of $169.2 million related to HYPE contributed during a business combination.

HYPE also extended its rally. The Block said the token rose 77% in the quarter ended June 30 and has gained more than 50% over the past month.

Policy optimism also supported sentiment. President Donald Trump said at a recent press conference that Brian Quintenz, chairman of the Commodity Futures Trading Commission, was working to bring Hyperliquid into the US in a fully legal way. HYPE and Hyperliquid Strategies shares both advanced after the remarks.