Nasdaq-listed company Lion Group Holding (LGHL) announced the establishment of a $600 million cryptocurrency treasury, primarily consisting of Hyperliquid (HYPE) tokens, marking a growing interest from institutions in altcoins beyond Bitcoin (BTC).
The Singapore-based trading platform stated that it has secured $600 million in funding from ATW Partners to launch its Hyperliquid (HYPE) token treasury and other blockchain projects. According to the company, $10.6 million of this funding will be deployed before Friday.
The Hyperliquid token will serve as the "primary reserve asset" for the company's Layer 1 (L1) treasury, which will also include Solana (SOL) and Sui (SUI) tokens.
Lion Group CEO Wilson Wang stated in a Thursday announcement, "Hyperliquid represents a natural extension of LGHL's existing derivatives business into decentralized markets, reflecting our belief that decentralized on-chain execution is the future of trading."
He added, "We believe that protocols like HYPE with decentralized ordering are foundational to building scalable DeFi systems."
The company noted that Solana's dominance in consumer-facing crypto applications and Sui's recent backing from World Liberty Financial were key factors in its selection of altcoins.
Sui partnered with World Liberty Financial (WLFI), supported by the Trump family, on March 6, with the token being included in WLFI's "macro strategy" token reserve, three months after Eric Trump disclosed in a December interview that he held SUI tokens.
Shareholders reacted positively to the news of the crypto treasury; according to Google Finance data, Lion Group's stock price surged nearly 20% on the daily chart following the announcement, trading at $3.33 at the time of writing.
Bitget Wallet Chief Management Officer Jamie Elkaleh stated in an interview with Cointelegraph that the $600 million crypto treasury commitment signifies a significant shift in corporate interest towards altcoins:
"Holding tokens like SOL or SUI is not about digital gold, but rather betting on networks with high trading volumes and rich developers that support real consumer and DeFi use cases."
Elkaleh remarked, "This is not just treasury management—this is ecosystem participation." He also added that more companies will seek to actively engage in the crypto space rather than just gain passive exposure.
On the same day, another Nasdaq-listed company, Eyenovia, also announced its Hyperliquid reserve plan. Max Giege, head of Merenti Capital, referred to HYPE as "the best-positioned digital asset for the future" and praised the protocol's fully on-chain, frictionless trading model.
"There are few native token incentive mechanisms that are truly tied to the success of the network."
He added, "HYPE is the best-positioned digital asset for the future, and Eyenovia will effectively capture this value for shareholders."
An increasing number of companies are announcing corporate treasury plans, including those from traditional industries.
On June 11, Nasdaq-listed fitness equipment manufacturer Interactive Strength announced it raised $500 million to acquire Fetch.ai (FET) tokens and establish the world's largest corporate AI token treasury.
ATW Partners is also one of the initial investors in Interactive Strength's $500 million treasury. ATW Partners and DWF Labs invested a total of $55 million in the fitness manufacturer, which has been used to acquire FET tokens.
Additionally, according to a report by Cointelegraph on Tuesday, Nasdaq-listed company Genius Group increased its Bitcoin (BTC) treasury by 52%, purchasing over 100 BTC, totaling more than $10 million.
Related: Canadian Sol Strategies applies to SEC for Nasdaq listing
Original: “Nasdaq-listed Lion Group bets on Hyperliquid, announces $600 million HYPE treasury”
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