Overview
- Duquesne Family Office reported a new $23 million position in Hyperliquid Strategies (PURR) in its second-quarter Form 13F, showing the holding as of June 30 on the quarterly snapshot.
- Hyperliquid Strategies has built one of the largest corporate treasuries of HYPE, with reporting and treasury-data estimates showing roughly 23.7 million HYPE and large unrealized gains after purchases earlier this year.
- Investors are gaining HYPE exposure without holding the token directly by buying PURR shares, by ETFs that direct fee proceeds into HYPE, and through newly launched CFTC-regulated perpetual futures that raised futures open interest.
- The disclosure is notable because Duquesne’s former partner Kevin Warsh became Federal Reserve chairman in May 2026 and his financial filings and Fed ethics rules require divestitures or limits on certain holdings tied to such connections.
- Hyperliquid’s model routes a portion of protocol trading fees into HYPE buybacks and corporate treasury accumulation, a combination that concentrates demand and could increase market scrutiny of token price swings, liquidity, and governance.