Hyperliquid Strategies (PURR)
Provides listed HYPE exposure through treasury accumulation, staking, and validator operations.
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Provides listed exposure to HYPE by acquiring and staking the token, while developing validator income through Hyperliquid Strategies x Unit. Revenue has come from staking, making the business a concentrated digital-asset treasury rather than a conventional customer-product company.
Provides listed HYPE exposure for investors that cannot, or prefer not to, hold the token directly. The single digital-asset treasury operation deploys contributed cash and public-equity financing to buy HYPE, stake it for protocol rewards, repurchase shares selectively, and publish treasury, share-count, tokenomics, and adjusted-NAV analytics. Its customer-visible operating brand is the Hyperliquid Strategies x Unit validator, launched with Unit Labs.
Earns its reported revenue from HYPE staking, with validator commissions presented as a prospective additional revenue stream. The balance sheet, staking income, and validator economics depend on HYPE demand and activity on the Hyperliquid network; token custody is concentrated at Anchorage Digital Bank, and execution relies on Unit Labs' jointly operated validator infrastructure. New digital-asset regulation could affect the ability to hold or transact in HYPE. The company is independent of and not affiliated with Hyperliquid.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Compass Point | Initiate | Rating: —Target: — | Target: $18 |
| Sep 10, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $22.60 | Target: $34.20 |
| Aug 28, 2026 | Chardan Capital | Reiterate | Rating: —Target: $8.15 | Target: $17 |
| Aug 27, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $8 | Target: $22.60 |
| May 11, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $6 | Target: $8 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $137.9M · Total debt $0 · Total assets $2.06B · Shareholders' equity $1.87B
- Revenue
- $6.3M
- Operating income
- $3.1M
- Net income
- $470.9M
No dividends on record.
| Institutions | ≈ 88.09% | 118.57M shares | |
|---|---|---|---|
| 211 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≈ 11.91% | 16.03M shares | |
| remainder | |||
134.60M company shares as of Aug 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.54% | 10.15M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.68% | 9.00M | as of Jun 30, 2026 |
Morgan StanleyInstitution | 6.61% | 8.89M | as of Jun 30, 2026 |
D1 Capital Partners L.P.Institution | 4.71% | 6.34M | as of Jun 30, 2026 |
Paradigm Operations LPInstitution | 4.24% | 5.71M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Hyperion DeFi
Closest listed HYPE treasury and validator alternative.
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- DeFi Development
SOL treasury and validator peer for productive Layer-1 exposure.
- Lion Group (ADR)
Smaller listed HYPE reserve alternative for public-market investors.
- Sharplink
Institutional ETH treasury substitute with native and liquid staking.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hyperliquid Strategies | $13.70 | +1.07% | $1.82B | 20.8 | — | 192.8 | — |
| Hyperion DeFi | $3.95 | +2.47% | $58.4M | — | 0.7 | 41.7 | — |
| Strategy | $168.88 | +0.23% | $55.74B | — | 5.1 | 111.9 | +6.9% |
| BitMine Immersion Technologies | $28.46 | +0.75% | $16.09B | — | 39.3 | 262.9 | +2,964.4% |
| DeFi Development | $6.36 | −2.38% | $196.1M | — | — | 13.0 | +66.9% |
| Lion Group (ADR) | $7.90 | −8.09% | $1.7K | — | — | 0.0 | — |
| Sharplink | $10.31 | +3.35% | $1.97B | — | 92.4 | 39.2 | +1,553.3% |
| Median | — | 22.2 | 40.4 | +810.1% |