NewsBTC reports that Hyperliquid Strategies held 38.5 million HYPE as of September 30. The Nasdaq-listed company disclosed the figures on November 5 and outlined plans to obtain FCM status as a futures market participant.
During the quarter, the company raised $911 million in equity capital, allocated $785 million to purchase 9.1 million HYPE and spent $17 million on share buybacks. At the end of the quarter, it had $254.6 million in cash and cash equivalents and no debt.
The application for FCM status does not yet mean approval. The value of the tokens in the treasury depends on the price of HYPE, while the development of regulated services depends on obtaining authorization and complying with applicable rules.