Multicoin Capital makes HYPE largest hedge fund holding: Bloomberg

Multicoin Capital, a prominent crypto investment firm managing approximately $2.7 billion, has identified HYPE as its largest holding within its hedge fund, according to Bloomberg. The firm has acquired the tokens on public markets, though the exact size of the holding has not been disclosed. Multicoin Capital’s decision to focus on HYPE, the native token of the Hyperliquid decentralized derivatives protocol, suggests the firm’s ongoing commitment to digital assets, rather than diversifying into artificial intelligence sectors. HYPE is currently valued near $79, with a market cap ranging between $17.5 billion and $20.1 billion, standing about 17% to 20% below its all-time high of $98. Observers should monitor further updates from Multicoin Capital regarding their strategic plans and any changes in their crypto investment focus.

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