Lion Group Holding (LGHL), listed on Nasdaq, has announced the establishment of a $600 million cryptocurrency treasury with a focus on the Hyperliquid (HYPE) token. This decision highlights the growing institutional interest in altcoins.
Size of Crypto Treasury
The Singapore-based trading platform announced it secured $600 million from ATW Partners to fund the launch of its HYPE token treasury and other blockchain initiatives. It is expected that $10.6 million will be deployed by June 20.
Selection of Tokens for the Treasury
The Hyperliquid token will serve as the 'primary reserve asset' in the Layer-1 treasury, which will also include Solana and Sui tokens. According to CEO Wilson Wang, Hyperliquid represents a natural extension of the company's existing derivatives business into decentralized markets.
Trends in Corporate Treasuries
The treasury announcement coincided with a similar announcement from another Nasdaq-listed firm, Eyenovia, which also announced the establishment of a Hyperliquid treasury. The increasing interest in corporate treasuries is becoming more noticeable among companies from various sectors, as highlighted by Genius Group's Bitcoin treasury increase and Interactive Strength’s plans to create the largest corporate AI trading treasury.
The establishment of cryptocurrency treasuries, such as that of Lion Group Holding, indicates an increasing interest from companies in decentralized finance and altcoins, which may be significant for the sector's development.
