Lion Group creates $600 mln crypto reserve with HYPE token

Financial platform Lion Group Holding Ltd. (LGHL) has announced the creation of HYPE Treasury with a target funding of $600 mln. Funds will be provided by investment firm ATW Partners. The central asset of the structure will be the HYPE token, native to the decentralized exchange and blockchain Hyperliquid.

Hyperliquid launched in December 2024 and has already accumulated $542 million TVL, according to DeFiLlama. LGHL management sees the project as a “natural extension” of its on-chain derivatives business. According to CEO Wilson Wang, decentralized trading will become the basis for future financial systems.

The treasury will include three digital assets: HYPE, Solana (SOL) and Sui (SUI). HYPE will be the main reserve position, while the company will put SOL and SUI into staking through a partnership with BitGo. According to The Defiant, the first part of the $10.6 million deal is expected to close within 48 hours.

HYPE token is trading around $38, with a capitalization of $13.2 billion, showing a growth of 50% over the month. On the back of the announcement, LGHL shares rose to $3.50 – that’s +25.88% for the day. Listings on Tokyo and Singapore exchanges are also under consideration, which may make the structure the first Asian cryptocurrency treasury with HYPE at its center.

This is the second case of vault formation with HYPE within a day: earlier Eyenovia announced investments for $50 mln into a similar reserve. Consecutive steps strengthen the trend towards the use of on-chain assets in the role of corporate reserves.

Nevertheless, the $600 million figure drew criticism. An Anteater trader called it overstated, and a Delphi analyst under the pseudonym LTR accused LGHL of fraud. However, interest in the industry’s “treasury on blockchain” model continues to grow.