Multicoin Says Hyperliquid (HYPE) Is Its Largest Hedge Fund Holding

Spencer Applebaum, Multicoin Capital’s general partner and co-head of venture, said the firm will keep its investments focused on digital assets, with Hyperliquid (HYPE) as the largest holding in its hedge fund. Applebaum put Multicoin’s assets at $2.7 billion. He said the firm acquired its HYPE position through public-market purchases and generally keeps publicly traded assets for several years. Multicoin will not follow peers such as Paradigm into artificial intelligence (AI) and robotics, Applebaum said. He said some investors are pursuing crypto-AI connections to address problems that do not exist. The comments build on Multicoin’s crypto-focused investment stance . Applebaum said the size of Multicoin’s $422 million venture fund has slowed its deployment through seed rounds.

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