Hyperliquid continues to draw major institutional interest as another Nasdaq-listed firm, Lion Group Holding Ltd (LGHL), announces a $600 million facility to launch a HYPE-focused treasury strategy.
Lion Group Holding Ltd, listed on Nasdaq and offering a trading platform for a suite of products that includes total return swaps, contract-for-difference and over-the-counter stock options, announced its move on June 18, 2025.
That’s just a day after Eyenovia, a U.S.-based ophthalmic technology firm, said it planned to deploy $50 million into a Hyperliquid (HYPE) treasury initiative. The news hasn’t catalyzed fresh gains for HYPE price, notably amid prevailing market conditions.
However, Eyenovia and LGHL highlight the growing institutional interest in the native token of Hyperliquid, a decentralized finance-focused blockchain and platform.
LGHL eyes Hyperliquid (HYPE) treasury with initial $600m
According to Lion Group, the objective is clear: build the largest Hyperliquid treasury in the world. Eyenovia has expressed similar ambitions, hinting at a potential race to become the “Strategy of HYPE.”
Michael Saylor’s Strategy (formerly MicroStrategy) remains the top corporate holder of Bitcoin (BTC) on its balance sheet among publicly-listed companies. The U.S.-based firm has inspired a whole range of BTC treasury firms – with Ethereum, XRP and Solana now seeing similar trends.
Hyperliquid is the latest token to capture attention. LGHL is relaunching its crypto operations to align with its entry into the DeFi ecosystem, noting in a press release:
The company is relaunching its crypto operations amid the quest to tap into the decentralized finance ecosystem, LGHL noted in a press release.
“Hyperliquid represents a natural extension of LGHL’s existing derivatives business into decentralized markets, and reflects our conviction that decentralized on-chain execution is the future of trading,” Wilson Wang, chief executive officer of LGHL, said. “We view protocols like HYPE, with decentralized sequencing, as foundational to building scalable DeFi systems.”
The company is also considering secondary listings on the Tokyo Stock Exchange and Singapore Exchange, which would make it the first HYPE treasury firm publicly listed in Asia.
LGHL also eyes Solana, Sui treasury initiaives
According to Lion Group Holding CEO Wilson Wang, the launch of the HYPE treasury isn’t the company’s only plan. An on-chain vision also includes treasury reserves built with other layer-1 tokens.
That means plans for the strategic accumulation of Solana (SOL) and Sui (SUI). If this happens, the company will use BitGo to custody and stake its SOL and SUI.
“We may also allocate to Solana (SOL), a leader in consumer-facing applications, and Sui (SUI), a performant, composable layer-1 with recent backing from Eric Trump’s World Liberty Financial – both forming key pillars to our treasury strategy focused on execution-first protocols,” Wang noted.
SOL is the sixth largest cryptocurrency by market cap with over $76 billion. Meanwhile, HYPE and SUI are currently the 11th and 12th largest with $12.9 billion and $9.4 billion respectively.
