Lion Group Holding (Nasdaq: LGHL) announced on June 19, 2025, that it secured $600 million in credit facilities from ATW Partners to finance a new cryptocurrency reserve led by HYPE.
The company announced that its treasury will focus on the Hyperliquid (HYPE) token. It mentioned the cryptocurrency as its reserve asset, alongside its holdings of Solana (SOL) and Sui (SUI).
The first $10.6 million of this capital is set to be launched in days. Lion Group announced that this move represents a return to the cryptocurrency sector, focusing on cross-chain financing and decentralized markets.
Inside the $600 million Lion Group Altcoin Treasury project
Lion Group's plan is to accumulate HYPE tokens as the backbone of the next-generation layer 1 treasury.
The press release described the matter as,
"... the 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)."
The company management stated that BitGo Trust Company will provide custody and storage for SOL and SUI assets.
Lion Group is considering secondary listings on the Tokyo and Singapore exchanges to expand its investor base.
The first tranche of $10.6 million in funding is expected to close within 48 hours, with Chardan acting as the underwriter fully funding the $600 million facility.
Lion Group's CEO, Wilson Wang, stated in a release that this move aims to expand the company's current financial derivatives business into decentralized markets.
He added:
"Hyperliquid represents a natural extension of LGHL's current derivatives business into decentralized markets, reflecting our conviction that on-chain decentralized execution is the future of trading."
He emphasized that protocols like HYPE, which utilize on-chain sequencing, "form the foundation for building scalable DeFi systems."
Several other companies listed on Nasdaq have recently announced similar asset management strategies. Interactive Strength Inc. revealed on June 11 that it raised about $500 million to buy Fetch.ai (FET) tokens and create a major AI-based cryptocurrency investment fund.
ATW Partners, the same lender to Lion Group, and DWF Labs' cryptocurrency fund supported this funding. Interactive Strength described it as the largest corporate AI token fund in the world, representing a parallel move towards Lion Group's focus on alternative currency reserves.
Lion Group itself indicated that it expects this on-chain treasury strategy to "resonate with global investors and drive long-term shareholder value."
Investors will watch whether the reserve led by HYPE can outperform traditional cash or Bitcoin holdings.
If the growth of the HYPE network and its rewards surpass those of other assets, it could validate Lion Group's bold bet on alternative currencies; if not, the experience may lead to caution.
Hyperliquid (HYPE) Market Data
The HYPE token, Hyperliquid's native token, experienced notable volatility ahead of this announcement. According to CoinGecko data, HYPE reached a seven-day high of about $45.57 on June 16, 2025.
CoinMarketCap ranks the HYPE token at around $36.96, down about 7.96% over the past 24 hours, making it the 11th largest by market capitalization (around $12.3 billion).
Over the past week, the price of HYPE dropped by about 15%, lagging behind the broader cryptocurrency market. Its recent trading ranges were between $36.7 and $40.0 (24 hours) and $36.9 and $45.1 (7 days).
Weekly chart for HYPE/USDT | Source: Coinmarketcap
The proposed value of HYPE includes zero gas fees and a full on-chain order book model, which its supporters believe can attract traders.
Meanwhile, stock investors reacted positively to the news. The stock price of Lion Group surged sharply on the day of the announcement.
The ADR index (LGHL) rose by about 19-21% during the day, trading at around $3.33 at its highest point on June 18.