Hyperliquid Strategies Files for $1B IPO to Expand HYPE Token Holdings
Hyperliquid Strategies Inc. has taken a bold step toward institutional crypto adoption with its filing for a $1 billion U.S. IPO. The firm plans to issue 160 million shares, advised by Chardan Capital Markets, with proceeds earmarked for aggressive HYPE token accumulation and staking operations.
Market reaction was immediate—HYPE surged 10% to $38 following the announcement. The token's rally reflects growing confidence in Hyperliquid's strategy to leverage staking rewards for long-term value creation. Currently holding 12.6 million HYPE tokens and $305 million in cash, the firm is positioning itself as a major ecosystem player.
The capital raise follows an $888 million reverse merger that will leave legacy Sonnet BioTherapeutics investors with just 1.2% of the new entity. Industry observers note the MOVE signals deepening institutional interest in crypto assets, despite potential regulatory headwinds and shareholder dilution concerns.
