Hyperliquid Strategies, the HYPE treasury company trading on Nasdaq as PURR, was officially added to the Russell 3000 and Russell 2000 indexes on June 30. It had already been included in the S&P Global BMI Index earlier. After the launch of HYPE-related ETFs, Odaily said the latest step added to the case that Wall Street firms are building positions tied to the HYPE token and the broader Hyperliquid ecosystem.
Fresh 13F disclosures now show a longer list of institutions that either bought PURR for the first time or increased existing positions. Odaily used those filings to trace which firms are indirectly expanding HYPE exposure through PURR. The stock values cited in the report are all calculated using PURR’s June 30 share price.
Hedge funds and family offices that actively bought PURR
The list of active buyers spans macro investors, quant funds, and fundamentally driven managers.
Duquesne disclosed a $23 million PURR position
According to a second-quarter 2026 13F filing submitted to the U.S. Securities and Exchange Commission, Duquesne, the family office of Stanley Druckenmiller, disclosed a stake in Hyperliquid Strategies Inc. worth $23 million as of June 30. Odaily said it was the first time the firm had reported holding PURR. Duquesne currently manages about $5.2 billion.
Druckenmiller is one of Wall Street’s best-known macro investors. He came out of George Soros’s Quantum Fund, served as chief trader there, and played a role in the 1992 trade against the British pound. Odaily also noted that current Federal Reserve Chair Warsh once worked at the Duquesne family office, and before taking office had principal assets of more than $100 million, including two Duquesne Family Office-related investments of more than $50 million each.
Renaissance Technologies held about $18.7 million in PURR
Renaissance Technologies was founded by late mathematician Jim Simons and is now run by a team led by Peter Brown. The firm manages more than $96 billion, and its Medallion fund is widely viewed as one of the most successful hedge funds ever.
The latest 13F filing showed Renaissance increased its PURR position by roughly 2.4 million shares, bringing the disclosed value to about $18.7 million. Odaily wrote that the purchase suggests PURR met the firm’s quantitative screening standards on factor models and pricing efficiency.
Slate Path Capital held about $21.4 million
Slate Path Capital was founded by David Greenspan, a former partner and managing director at Blue Ridge Capital, one of the well-known Tiger Cub funds. The firm is described as a fundamentally driven Tiger Cub manager focused on global equities and structural macro opportunities. Its assets under management are about $12 billion.
Its latest 13F filing showed a position of roughly 2.7 million PURR shares, valued at about $21.4 million.
Discovery Capital Management held about $10.3 million
Discovery Capital Management was founded by Robert Citrone, another investor with Tiger Fund roots. He launched Discovery in 1999. The firm manages about $3.5 billion and is known for emerging markets, foreign exchange, fixed income, and global macro hedge trading.
Odaily said Discovery currently holds around 1.3 million PURR shares worth about $10.3 million.
Balyasny Asset Management held about $3 million
Balyasny Asset Management was co-founded by Dmitry Balyasny, Scott Schroeder, and Taylor O'Malley. The firm has about 2,700 employees and 24 offices worldwide, making it one of the larger multi-strategy hedge fund platforms. As of August 2026, its assets under management were about $38 billion.
The latest data showed Balyasny holding about 386,000 PURR shares with a value of roughly $3 million.
Wealth High Governance Capital held about $17.1 million
Wealth High Governance Capital is an independent wealth and asset manager based in São Paulo, Brazil. Odaily described it as a boutique platform built around 2020 by former Credit Suisse private banking executives in Brazil rather than a traditional large-bank asset manager. The key figure behind its global asset investing is founding partner and CIO Andrew Reider, who previously worked at the Moreira Salles family office and Verde Asset Management.
The firm’s overall investment scale is about $940 million, while its U.S. 13F equity portfolio stands at about $640 million. The latest disclosure showed PURR accounting for around 1.82% of its total portfolio, worth about $17.1 million.
Odaily added that other active buyers included Tudor Investment Corporation, Point72, and D.E. Shaw, though it did not break them out in detail because the disclosed positions were smaller.
Passive buying followed PURR’s index additions
Beyond hedge funds and family offices that actively built positions, PURR’s inclusion in Russell indexes also triggered passive demand from large asset managers.
Vanguard, which Odaily described as managing more than $10 trillion, added about 843,000 PURR shares in the second quarter, with a value of roughly $6.6 million. Nuveen, the asset management platform under TIAA, manages about $1.4 trillion and traces its roots back to 1898. In the second quarter, it added around 1.07 million PURR shares, worth about $8.4 million.
Odaily also cited MarketBeat data showing total institutional buying of PURR in Q2 2026 at about $142 million. Other well-known holders disclosed recently include Paradigm and Bank of America, with positions generally ranging from several hundred thousand dollars to several million dollars.
The buyer base is shifting beyond crypto-native funds
The article noted that 13F filings only capture positions as of June 30, so current PURR holdings may already look different. Still, the broader pattern matters: institutional ownership has been moving from early crypto arbitrage firms toward quant funds, hedge funds, and traditional Wall Street financial institutions.
Odaily said BlackRock, Jane Street, Geode, and Invesco have also become passive buyers through index funds. In its reading, that means HYPE exposure and the Hyperliquid ecosystem are drawing growing attention from traditional finance, not only as a research theme but also as something being tested in actual portfolios. The report even said the state of Ohio has gained indirect exposure through PURR shares.
Future catalysts for Hyperliquid are still ahead
At the same time, Odaily said Hyperliquid still needs stronger token performance and continued ecosystem buildout before it can absorb a larger share of global capital flows.
The article pointed to an upcoming catalyst: Hyperliquid plans to launch its AQAv2 revenue-sharing mechanism on Aug. 26. Odaily said the mechanism is expected to contribute $200 million a year in HYPE buybacks and has backing from Circle and Coinbase. It also linked that setup with ongoing development around Hyperliquid’s HIP-3 and HIP-4 markets, arguing that these factors could support a new rebound in HYPE.
The piece closed by comparing HYPE with ETH, which it said was once seen as a global financial asset effectively absorbed by Wall Street institutions. Whether HYPE can carry that expectation may become clearer in the fourth quarter of this year, according to Odaily’s framing.