NewsFlash Articles Data Fundraising BlockBeats Pro

From Hedge Funds to Family Offices, Who is Quietly Buying HYPE through PURR?

Read this article in 13 Minutes

The once-dubbed ETH as the "globally recognized financial asset under Wall Street institutional adoption" is now seeing this expectation shift to HYPE.

Original Title: "From Hedge Funds to Family Offices, Who Is Quietly Increasing HYPE Exposure through PURR?"
Original Author: Wenser, Odaily Planet Daily

On June 30, HYPE Treasury company Hyperliquid Strategies (PURR) was officially included in the Russell 3000 Index and Russell 2000 Index. Earlier, PURR had been included in the S&P Global BMI Index. Following the listing of HYPE-related ETFs, this milestone achievement is also seen as further evidence of Wall Street institutions positioning themselves in HYPE tokens and the Hyperliquid ecosystem.

Recently, with the latest 13F filing disclosures, more investment institutions have either initiated a position or increased their holdings in PURR, with news of such actions coming to light. Taking this as a clue, Odaily Planet Daily explores the industry's representative institutions indirectly increasing their HYPE exposure. (Note: The following holdings' total value is based on the June 30 PURR stock price calculation.)

Wall Street Institutions and Family Offices Actively Buying In: Duquesne Family Office, Renaissance Technologies Among the Ranks

Let's first talk about hedge funds and family offices that have actively bought in or increased their holdings of PURR shares.

Duquesne Family Office: Holding $23 million in PURR Company Stock

The Duquesne Family Office submitted its 13F holding report for the second quarter of 2026 to the U.S. Securities and Exchange Commission (SEC), revealing that as of June 30, Duquesne disclosed for the first time holdings worth $23 million in HYPE Treasury company Hyperliquid Strategies Inc (Nasdaq: PURR). The institution currently manages assets of approximately $5.2 billion.

Founded by Stanley Druckenmiller, one of Wall Street's most renowned macro investors, the institution has a 30-year track record without consecutive losses. Druckenmiller, with a background at Soros's Quantum Fund, served as Chief Investment Officer and gained fame for his classic trade "breaking the Bank of England" in 1992.

Additionally, current Fed Chair Powell previously worked at the Duquesne Family Office, with significant assets exceeding $100 million before his tenure, including two investments related to the Duquesne Family Office each exceeding $50 million, possibly in connection with providing advisory work for the family office.

Renaissance Technologies: Holds $18.7 Million of PURR Stock

Founded by the late mathematician Jim Simons and currently led by Peter Brown, the firm manages assets worth over $96 billion. Its renowned flagship fund, Medallion, is one of the most successful hedge funds in history. According to its latest 13F filing, the firm increased its stake by about 2.4 million shares of PURR stock, valued at approximately $18.7 million.

As the world's most famous quantitative hedge fund, Renaissance Technologies' quantitative algorithms and investment models have always been praised by numerous market investors. Holding PURR stock indicates that the stock has met its algorithmic screening standards in terms of quantitative factors and pricing efficiency.

Slate Path Capital: Holds $21 Million of PURR Stock

Founded by David Greenspan, who previously served as a partner and managing director at the well-known "Tiger Cub" hedge fund Blue Ridge Capital. This fund is a typical fundamentally driven "Tiger Cub" fund, focusing on global equities and macro structural opportunities. Currently, the AUM is approximately $12 billion.

According to its latest 13F filing, the firm holds about 2.7 million shares of PURR, valued at around $21.4 million.

Discovery Capital Management: Holds $10.3 Million of PURR Stock

Founded by Robert Citrone, also from a Tiger fund background, Discovery was formally established in 1999 and currently manages assets of around $3.5 billion. It is known for its focus on emerging markets, forex, fixed income, and global macro hedging trades.

Its investment style falls into the "aggressive opportunistic" category, excelling in seeking alpha in high-volatility assets. Currently, the firm holds about 1.3 million shares of PURR, valued at approximately $10.3 million.

Balyasny Asset Management: Holds $3 Million of PURR Stock

Founded by Dmitry Balyasny, Scott Schroeder, and Taylor O'Malley, the asset management firm has around 2,700 employees globally across 24 offices. It is one of the world's top multi-strategy hedge funds. As of August 2026, the firm's AUM is approximately $38 billion.

The latest data shows that the institution holds about 386,000 shares of PURR stock, worth approximately $3 million.

Wealth High Governance Capital: Holds about $17.1 million worth of PURR stock

The institution is a Brazilian independent wealth management and asset management firm based in São Paulo. It is not a traditional bank-owned asset management institution but a boutique asset management platform set up by former senior executives of the Brazilian private bank Credit Suisse around 2020. The key figures driving global asset investment are the institution's founding partner and CIO, Andrew Reider, who previously worked at the Moreira Salles family office and Verde Asset Management. Currently, the institution's total assets under management are approximately $940 million, with its U.S. 13F filing stock portfolio size around $640 million.

The latest data shows that about 1.82% of the institution's total holdings are in PURR stock, valued at around $17.1 million.

In addition to the above institution, other institutions actively buying PURR stock include Tudor Investment Corporation, Point72, D.E. Shaw, etc., but due to their smaller holdings, they are not detailed here.

Passive Holding Giants: Vanguard Group and Nuveen

As mentioned earlier, in addition to actively increasing positions by hedge funds and other institutions, Vanguard Group and TIAA's asset management platform Nuveen, benefiting from PURR's addition to the Russell Index, passively increased their holdings of PURR stock.

Among them, global asset management giant Vanguard Group, with assets under management exceeding $10 trillion, increased its PURR stock holdings by about 843,000 shares in Q2, worth around $6.6 million; TIAA's asset management platform Nuveen, with assets under management currently around $1.4 trillion, tracing back to as early as 1898, increased its holdings by about 1.07 million shares of PURR stock in Q2, worth approximately $8.4 million.

According to Marketbeat data, institutional purchases of PURR in Q2 2026 totaled approximately $142 million.

Recently disclosed institutions holding PURR stock include well-known names such as Paradigm and Bank of America, with positions typically ranging from tens of thousands to millions of dollars.

Of course, the disclosure date for the 13F filing is June 30, and the size of PURR holdings by major investment institutions may have experienced varying degrees of change. However, looking at the overall trend, PURR's institutional investors have gradually shifted from early-stage crypto arbitrage companies to quantitative funds, hedge funds, and even Wall Street traditional financial institutions. Institutions such as BlackRock, Jane Street, Geode, and Invesco have also seen passive buying through index funds. In other words, the exposure to HYPE tokens and the Hyperliquid ecosystem has attracted more and more attention, experimentation, and position allocation from the traditional financial industry. Even the state of Ohio, USA, indirectly holds PURR stock to achieve this goal. In the pursuit of the "next generation of global financial infrastructure," traditional financial institutions will never sit idly by.

However, the future is bright but the road is winding. Before the Hyperliquid welcomes a future with more global capital liquidity, the price performance of the HYPE token and the continued development of the Hyperliquid ecosystem still have a long way to go.

Recently, Hyperliquid's "AQAv2 Revenue Sharing Mechanism," set to launch on August 26, is expected to contribute $200 million in annual HYPE buyback funds, a mechanism also supported by Circle and Coinbase. With this favorable stimulus and the ongoing development of the Hyperliquid HIP-3 and HIP-4 markets, the HYPE token price is expected to see a new round of rebound.

Once, ETH was seen as the "global financial asset taken over by Wall Street institutions." Now, this expectation rests on HYPE, and whether it can live up to this expectation may be revealed in Q4 of this year.