Lion Group Holding (Nasdaq: LGHL) on June 19, 2025 announced it had secured a $600 million credit facility from ATW Partners to fund a new cryptocurrency reserve led by HYPE.
The company said the treasury will be centered on the Hyperliquid token (HYPE). It mentions the crypto as its reserve asset, along with holdings of Solana (SOL) and Sui (SUI).
The first $10.6 million of this capital is slated for deployment within days. Lion Group said this move marks its reentry into crypto operations with a focus on on-chain finance and decentralized markets.
Lion Group’s plan is to accumulate HYPE tokens as the backbone of a next-generation layer-1 treasury.
The press release described it as,
“…strategic accumulation of HYPE to serve as the Company’s primary reserve asset” and noted that the reserve will be “anchored by Hyperliquid (HYPE), Solana (SOL) and Sui (SUI).”
Company management said BitGo Trust Company will provide custody and staking for the SOL and SUI holdings.
The Lion Group is exploring secondary listings on the Tokyo and Singapore exchanges to broaden the investor base.
The first $10.6 million tranche of funding is expected to close within 48 hours, with the entire $600 million facility underwritten by Chardan as placement agent.
Lion Group CEO Wilson Wang in a statement said that the move extends the firm’s existing derivatives business into decentralized markets.
He added,
“Hyperliquid represents a natural extension of LGHL’s existing derivatives business into decentralized markets, and reflects our conviction that decentralized onchain execution is the future of trading.”
He highlighted that protocols like HYPE, which use on-chain sequencing, “are foundational to building scalable DeFi systems”.
Several other Nasdaq-listed companies have recently announced similar treasury strategies. Interactive Strength Inc. revealed on June 11 that it raised about $500 million to acquire Fetch.ai (FET) tokens and establish a major AI-themed crypto treasury.
ATW Partners, the same lender to Lion Group, and crypto fund DWF Labs backed that financing. Interactive Strength called it the world’s largest corporate AI token treasury, marking a parallel move to Lion Group’s focus on altcoin reserves.
Lion Group itself noted that it expects this on-chain treasury strategy to “resonate with global investors and drive long-term shareholder value.”
Investors will be watching whether the focused HYPE-led reserve can outperform more traditional cash or Bitcoin holdings.
If HYPE’s network growth and rewards exceed those of other assets, it could vindicate Lion Group’s bold bet on altcoins; if not, the experiment may prompt caution.
Hyperliquid’s native token HYPE has seen notable volatility ahead of this announcement. According to CoinGecko data, HYPE reached a 7-day high of about $45.57 on June 16, 2025.
CoinMarketCap lists HYPE at roughly $36.96, down about 7.96% over the past 24 hours and ranking it #11 by market cap (around $12.3 billion).
Over the past week, HYPE’s price declined roughly 15%, underperforming the broader crypto market. Its recent trading ranges were roughly $36.7-$40.0 (24h) and $36.9-$45.1 (7d).
HYPE’s value proposition includes zero gas fees and a fully on-chain order book model, which its proponents believe can attract traders.
Meanwhile, stock investors reacted positively to the news. Lion Group’s stock price jumped sharply on the announcement date.
The ADR (LGHL) rose by roughly 19-21% intraday, trading around $3.33 at the high point on June 18.
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