Update June 19, 1:58 pm UTC: This article has been updated to include comments from Bitget Wallets CMO.Nasdaq-listed Lion Group Holding (LGHL) is establishing a $600 million cryptocurrency treasury reserve, with the Hyperliquid (HYPE) token as its main asset, signaling a growing institutional interest in altcoins beyond Bitcoin.The Singapore-based trading platform said it secured a $600 million facility from ATW Partners to fund the launch of its Hyperliquid (HYPE) token treasury and other blockchain initiatives.
According to the company, $10.6 million of the capital will be deployed by Friday.The Hyperliquid token will serve as the primary reserve asset of the firms layer-1 (L1) treasury reserve asset, which will also feature Solana (SOL) and Sui (SUI) tokens.Hyperliquid represents a natural extension of LGHLs existing derivatives business into decentralized markets, and reflects our conviction that decentralized onchain execution is the future of trading, said Wilson Wang, CEO of LGHL in a Thursday announcement.We view protocols like HYPE, with decentralized sequencing, as foundational to building scalable DeFi systems, he added.The firm cited Solanas dominance in consumer-facing crypto apps and Suis recent backing from World Liberty Financial as key factors in its altcoin selection.
Sui partnered with the Trump family-backed World Liberty Financial (WLFI) on March 6, which saw the token included in WLFIs Macro Strategy token reserve, three months after a December interview revealed that Eric Trump held SUI tokens.LGHL stock price, 1-day chart.
Source: Google FinanceShareholders received the crypto reserve news with optimism, with Lion Groups stock price soaring nearly 20% on the daily chart after the announcement to trade at $3.33 at the time of writing, according to Google Finance data.Related: Apple should buy Bitcoin, Saylor says, as share buyback disappointsThe $600 million crypto treasury commitment marks a significant shift in corporate appetite for altcoins, Jamie Elkaleh, chief managing officer of Bitget Wallet, told Cointelegraph, adding:Holding tokens like SOL or SUI isnt about digital gold; its about betting on transaction-heavy, developer-rich networks that power real consumer and DeFi use cases.Its not just treasury management its ecosystem participation, said Elkaleh, adding that increasingly more companies will look to actively participate in crypto, rather than just gaining passive exposure.The treasury launch comes the same day another Nasdaq-listed firm, Eyenovia, announced its own Hyperliquid reserve.
Max Giege, principal at Merenti Capital, called HYPE the best-positioned digital asset for the future, and praised the protocols fully onchain, friction-free trading model.It is rare that a native tokens incentives truly track the networks success.HYPE is the best-positioned digital asset for the future, and Eyenovia will effectively capture that value for shareholders, he added.Related: James Wynns second $100M Bitcoin bet: They are hunting meIncreasingly more companies are announcing corporate treasury plans, including firms from traditional industries.On June 11, Interactive Strength, a Nasdaq-listed fitness equipment manufacturer, announced a $500 million raise to acquire Fetch.ai (FET) tokens and establish the worlds largest corporate AI token treasury, according to the firm.ATW Partners was also among the initial investors for Interactive Strengths $500 million treasury.
ATW Partners and DWF Labs made a collective $55 million investment in the fitness manufacturer, which was already used to acquire FET tokens.Source: Fetch, Interactive StrengthElsewhere, Nasdaq-listed Genius Group increased its Bitcoin (BTC) treasury by 52%, surpassing 100 BTC purchased for a total of over $10 million, Cointelegraph reported on Tuesday.Magazine: US risks being front run on Bitcoin reserve by other nations: Samson Mow