Hyperliquid Strategies, a Nasdaq-listed company trading under the PURR ticker, announced that a subsidiary filed to become a futures commission merchant with US regulators. If approved, the subsidiary would carry US client accounts for permissioned markets deployed under Hyperliquid’s HIP-3 framework. The application remains subject to regulatory approval, with no assurance regarding its timing or outcome. As of October 28, Hyperliquid Strategies held approximately 38.9 million HYPE tokens at a blended acquisition cost of $56.35 and had $245.3 million in cash and cash equivalents. During the third quarter, the company deployed $802 million, including $785 million to acquire 9.1 million HYPE, and reported quarterly net income of $620.6 million.
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