Lion Group Revamps DAT Strategy, Sells Entire Solana Stake to Buy More Hyperliquid
Summary
- Lion Group said it sold its Solana holdings and part of its Bitcoin position to buy Hyperliquid.
- The purchase increased Lion Group's Hyperliquid holdings to about 232,900 tokens, valued at about $20.10 million.
- Lion Group said Hyperliquid's fundamentals, on-chain perpetual futures trading volume and a spot exchange-traded fund (ETF) were among the reasons for the investment.
Forecast Trend Report by Period
Lion Group, a U.S. company listed on Nasdaq, sold all of its Solana holdings and part of its Bitcoin position to buy Hyperliquid.
The company said on Sept. 30 that it had reshaped the portfolio for its digital asset treasury, or DAT, strategy around Hyperliquid.
On Sept. 29, Lion Group sold its entire Solana stake and part of its Bitcoin holdings. It used the proceeds to buy about 38,102 additional HYPE tokens.
The purchase increased Lion Group's Hyperliquid holdings to about 232,900 tokens, valued at about $20.10 million.
Lion Group said it did not sell any of its existing Hyperliquid holdings. It said the portfolio rebalancing reflected its conviction in Hyperliquid's fundamentals and long-term potential.
Lion Group cited Hyperliquid's on-chain perpetual futures trading volume and expansion of its product offerings as reasons for the investment. It also said broader access for U.S. institutional investors, including through a spot Hyperliquid exchange-traded fund, would bolster the token's growth prospects.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul