Hyperliquid Debuts PURR Stock Options on Nasdaq

• Hyperliquid Strategies has officially introduced options trading for its PURR common stock on the Nasdaq Options Market.
• The company currently holds 17.6 million HYPE tokens, representing approximately 1.83% of the total supply as of early February 2026.
• Hyperliquid’s HIP-3 markets have seen significant growth, reaching $1.74 billion in aggregated open interest within six months of launch.

Strategic Expansion into Derivatives

Digital asset treasury firm Hyperliquid Strategies Inc announced on Tuesday the launch of options trading for its common stock, PURR, on the Nasdaq Options Market. This move is designed to enhance liquidity and provide better price discovery for the shares. PURR stock serves as a capital-efficient vehicle for investors seeking exposure to HYPE, the native token of the Hyperliquid ecosystem.

CEO David Schamis characterized the launch as a major milestone, noting that these options will allow investors to manage risk more effectively while participating in the expansion of the company's high-performance infrastructure. The firm's core strategy remains focused on the accumulation and staking of HYPE tokens to maximize value for its shareholders.

Ecosystem Growth and Market Performance

The introduction of options coincides with a period of record-breaking activity for the Hyperliquid ecosystem. The platform's HIP-3 markets, which facilitate perpetual futures for tokenized real-world assets and oil, recently hit a peak of $1.74 billion in aggregated open interest. This milestone was achieved just six months after the markets were first established.

As of early February 2026, the company’s treasury includes:

• 17.6 million HYPE tokens currently held.
• A stake equivalent to 1.83% of the total HYPE circulating supply.
• Strategic deployment of capital to further increase these holdings through yield optimization.

Financial Results and Asset Valuation

Hyperliquid Strategies transitioned to a public entity in December through a merger with Sonnet BioTherapeutics. In its financial report for the end of 2025, the company disclosed total assets of $616.7 million. However, the firm also reported a net loss of $317.9 million for the second half of 2025. This loss was largely attributed to $262.4 million in unrealized losses on its HYPE holdings, resulting from market volatility.

Despite the reported accounting losses, the HYPE token has shown strong recent momentum. The token rose 7.37% in a 24-hour period to reach $40.25, marking a nearly 40% increase over the last 30 days. Meanwhile, PURR shares remained stable, closing at $5.29 following the announcement.