11.09.2025 23:29
Nasdaq-listed trading platform Lion Group Holding recently finalized a significant strategic shift, announcing the complete conversion of its SUI token reserves into HYPE, the native cryptocurrency of the Hyperliquid blockchain. This pivotal move arrives amidst a wave of positive developments for Hyperliquid, including VanEck's confirmed plans to launch HYPE-backed Exchange-Traded Funds (ETFs) in both the United States and Europe, alongside Hyperliquid's own proposal for a new stablecoin, USDH. These encouraging developments coincided with HYPE's impressive market performance, seeing its value surge over 22% within a single week. The Hyperliquid ecosystem has already garnered substantial interest from major investors and institutions, propelling HYPE's valuation by more than 1,500% year-to-date.
A press release issued on September 11 by Lion Group Holding detailed this pivotal strategic transaction, which forms part of a broader initiative to reallocate its Solana (SOL) and SUI holdings. The entirety of the firm's SUI portfolio was meticulously converted to HYPE via the BitGo Trust Company, signaling Lion Group's clear intention to foster Hyperliquid's sustained expansion and engage actively within its burgeoning ecosystem. Wilson Wang, CEO of Lion Group, articulated the rationale behind this comprehensive embrace of HYPE assets, stating it aligns directly with LGHL’s expanded trading platform strategy. Furthermore, he emphasized the company's commitment to contributing to Hyperliquid's growth, which he believes is poised to profoundly reshape the global market landscape.
Recalling earlier reports from internet sources in June, Lion Group secured $600 million from ATW Partners to establish its dedicated crypto treasury. Initially, the firm intended to diversify its holdings across HYPE, alongside other prominent altcoins like SOL and SUI. Following these latest conversions, the company’s current portfolio boasts approximately 94,726 HYPE tokens, valued at over $5.2 million, and 6,707 SOL tokens, amounting to $1.5 million. It is important to note that the previously held approximately one million SUI tokens, valued at $3.5 million, have now been fully swapped as part of this new strategy.
Despite these significant strategic moves within the cryptocurrency sector, Lion Group's stock (LGHL) experienced a downturn on Thursday, closing 6% lower at $1.879. Trading activity saw its 24-hour range fluctuate between a low of $1.660 and a high of $2.049. The session's trading volume also dipped beneath its average of $2.44 million, reflecting a mixed market reaction to the week's announcements.
